Loan Payment Calculator
Calculate monthly loan payments, total interest, and payoff date for any type of loan. Free calculator works for personal loans, business loans, and more.
Your Loan Payment
Monthly Payment
$506.91
Total Interest
$5,414.59
Save $0
Payoff Time
$60.00
5y 0m
Amortization Schedule
Shows how your loan balance decreases over time as you build equity
Payment Schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $506.91 | $340.24 | $166.67 | $24,659.76 |
| 2 | $506.91 | $342.51 | $164.40 | $24,317.25 |
| 3 | $506.91 | $344.79 | $162.11 | $23,972.45 |
| 4 | $506.91 | $347.09 | $159.82 | $23,625.36 |
| 5 | $506.91 | $349.41 | $157.50 | $23,275.95 |
| 6 | $506.91 | $351.74 | $155.17 | $22,924.21 |
| 7 | $506.91 | $354.08 | $152.83 | $22,570.13 |
| 8 | $506.91 | $356.44 | $150.47 | $22,213.69 |
| 9 | $506.91 | $358.82 | $148.09 | $21,854.87 |
| 10 | $506.91 | $361.21 | $145.70 | $21,493.66 |
| 11 | $506.91 | $363.62 | $143.29 | $21,130.04 |
| 12 | $506.91 | $366.04 | $140.87 | $20,764.00 |
Showing first 12 months of 60-month loan
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How to Use This Loan Calculator
This free loan payment calculator helps you make informed financial decisions. Simply enter your values above and see your results instantly - no signup required.
Why Use Our Calculator?
- •Instant Results: See calculations update in real-time as you adjust values
- •Visual Charts: Understand your finances with interactive visualizations
- •Mobile Friendly: Works perfectly on any device
- •100% Free: No hidden fees or signup required