You want to compare fixed-rate loan scenarios before requesting an official lender quote or reviewing a disclosure.
Loan Payment Calculator with Amortization
Estimate fixed-rate principal-and-interest payments, total interest, and an amortization schedule with an editable currency symbol.
Start here
Enter the amount borrowed, annual interest rate, repayment term, payment frequency, and currency symbol.
Browser-first
Your loan inputs and schedule are calculated locally in your browser and are not uploaded to a server.
Useful for
Estimate principal and interest on a fixed-rate loan
Fixed nominal annual rate with equal principal-and-interest payments. Taxes, insurance, origination costs, and other fees are not included.
Estimated monthly payment
$386.6660 payments · estimated payoff around July 2031
Periodic payment$386.66
Principal and interest only.
Total interest$3,199.36
Across the full modeled term.
Total of payments$23,199.36
Principal plus modeled interest.
Payments per year12
Monthly schedule
Amortization schedule
60 totalShowing the first 12 payments and the final payment when the schedule is longer.
| Payment | Amount | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $386.66 | $286.66 | $100.00 | $19,713.34 |
| 2 | $386.66 | $288.09 | $98.57 | $19,425.25 |
| 3 | $386.66 | $289.53 | $97.13 | $19,135.72 |
| 4 | $386.66 | $290.98 | $95.68 | $18,844.75 |
| 5 | $386.66 | $292.43 | $94.22 | $18,552.32 |
| 6 | $386.66 | $293.89 | $92.76 | $18,258.42 |
| 7 | $386.66 | $295.36 | $91.29 | $17,963.06 |
| 8 | $386.66 | $296.84 | $89.82 | $17,666.22 |
| 9 | $386.66 | $298.32 | $88.33 | $17,367.89 |
| 10 | $386.66 | $299.82 | $86.84 | $17,068.07 |
| 11 | $386.66 | $301.32 | $85.34 | $16,766.76 |
| 12 | $386.66 | $302.82 | $83.83 | $16,463.94 |
| 60 | $386.66 | $384.73 | $1.92 | $0.00 |
Planning estimate only
Actual lender calculations can use different compounding, timing, rounding, variable rates, fees, escrow, and local rules. Review the lender's disclosure before making a decision.
This result is not an APR quote or credit offer.
Quick answer
Estimate fixed-rate payments and amortization
Enter principal, annual interest rate, term, and start date to estimate principal-and-interest payments, total interest, payoff date, and an amortization schedule.
Taxes, insurance, variable rates, lender fees, escrow, prepayment rules, and jurisdiction-specific charges are excluded unless explicitly modeled.
Compound Interest: Compare reinvested compound growth with non-reinvested earnings using principal, contributions, annual return, years, and a yearly chart.
About this tool
Estimate fixed-rate principal-and-interest payments, total interest, and an amortization schedule with an editable currency symbol.
Your loan inputs and schedule are calculated locally in your browser and are not uploaded to a server.
Reminder
This estimate includes principal and interest only unless a field explicitly says otherwise. It does not include taxes, insurance, lender fees, closing costs, changing rates, late charges, or jurisdiction-specific rules. Use the lender's disclosure for an actual decision.
How to use it
- Enter the amount borrowed, annual interest rate, repayment term, payment frequency, and currency symbol.
- Calculate the periodic principal-and-interest payment and totals.
- Review the amortization schedule and compare another rate or term if needed.
Common use cases
- Estimate principal and interest on a fixed-rate loan
- Compare a shorter and longer repayment term
- See how much interest accumulates over time
- Review an illustrative amortization schedule before requesting a lender quote
Fixed-Rate Payment Example
For a fully amortizing fixed-rate loan, each level payment covers the interest due for the period and reduces principal. Early payments usually contain more interest; later payments contain more principal.
| Input | Illustrative value | What it means |
|---|---|---|
| Principal | $20,000 | Amount borrowed |
| Annual rate | 6.00% | Nominal rate used for the estimate |
| Term | 5 years | 60 monthly payments |
| Estimated payment | $386.66 | Principal and interest only |
What the Estimate Leaves Out
The calculated payment is useful for comparing rate and term scenarios, but it is not an annual percentage rate disclosure or lender quote. Real payments may include additional required costs.
- Property tax, homeowners insurance, mortgage insurance, or escrow amounts
- Origination, closing, service, late, prepayment, and other fees
- Variable rates, promotional stages, balloon payments, or irregular schedules
- Country-specific compounding, day-count, rounding, and consumer-credit rules
FAQ
How is a fixed-rate loan payment calculated?
The standard amortization formula uses the principal, periodic interest rate, and total number of payments to produce a level principal-and-interest payment.
Does the result include taxes and insurance?
No. The result is principal and interest only. Mortgages and other loans may add taxes, insurance, fees, or other charges.
Can I use a currency other than US dollars?
Yes. Enter the currency symbol you want. Keep all money inputs in the same currency.
Why might a lender quote differ?
A lender may use different timing, compounding, rounding, fees, rate changes, required insurance, or payment rules. The signed loan disclosure controls.