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Loan payment

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Loans & budgets

Loan payment

Work out your monthly payment and total interest

Example values are filled in. Replace them with your own.
Selects the unit only; does not convert exchange rates.
USD
Enter only the money borrowed, not future interest.USD 100,000.00
Enter the annual rate quoted by the lender or account. For 5% per year, enter 5.
One year is 12 months. Enter the time until the loan is fully repaid.3 years = 36 months
Decimal display settingsMoney is rounded according to the selected currency.
Example calculation

Borrowing USD 100,000.00 at 5% per year for 3 years means paying about USD 2,997.09 each month. That includes both principal and interest.

Your monthly payment
USD 2,997.09
Principal + interest
Payments in the first year
USD 35,965.08
Total of 12 payments
Total interest
USD 7,895.23
The extra cost of borrowing
Total paid over the full term
USD 107,895.23
All scheduled payments combined

This assumes equal monthly payments, a fixed interest rate and payments at each month-end.

Use the same currency for all amounts. Taxes and fees are excluded unless an explicit field is provided.

When do you pay the interest?

Inside your first monthly payment

Paying back borrowed money
USD 2,580.42
Interest
USD 416.67

As the balance falls, less of each payment goes to interest and more goes to principal. The loan payment stays the same.

Average interest per monthUSD 219.31Total interest divided by the number of payments. This is not the actual interest charged each month.

The tables show loan principal and interest only, excluding other monthly costs.

See payments by year+
See payments by year
PeriodPaymentPrincipal repaidInterestLoan remaining
Year 1 (12 months)USD 35,965.08USD 31,684.64USD 4,280.43USD 68,315.36
Year 2 (12 months)USD 35,965.08USD 33,305.69USD 2,659.39USD 35,009.67
Year 3 (12 months)USD 35,965.08USD 35,009.67USD 955.41USD 0.00
See payments by month+
See payments by month
PeriodPaymentPrincipal repaidInterestLoan remaining
Month 1USD 2,997.09USD 2,580.42USD 416.67USD 97,419.58
Month 2USD 2,997.09USD 2,591.17USD 405.91USD 94,828.40
Month 3USD 2,997.09USD 2,601.97USD 395.12USD 92,226.43
Month 4USD 2,997.09USD 2,612.81USD 384.28USD 89,613.62
Month 5USD 2,997.09USD 2,623.70USD 373.39USD 86,989.92
Month 6USD 2,997.09USD 2,634.63USD 362.46USD 84,355.29
Month 7USD 2,997.09USD 2,645.61USD 351.48USD 81,709.68
Month 8USD 2,997.09USD 2,656.63USD 340.46USD 79,053.04
Month 9USD 2,997.09USD 2,667.70USD 329.39USD 76,385.34
Month 10USD 2,997.09USD 2,678.82USD 318.27USD 73,706.52
Month 11USD 2,997.09USD 2,689.98USD 307.11USD 71,016.55
Month 12USD 2,997.09USD 2,701.19USD 295.90USD 68,315.36
Month 13USD 2,997.09USD 2,712.44USD 284.65USD 65,602.92
Month 14USD 2,997.09USD 2,723.74USD 273.35USD 62,879.17
Month 15USD 2,997.09USD 2,735.09USD 262.00USD 60,144.08
Month 16USD 2,997.09USD 2,746.49USD 250.60USD 57,397.59
Month 17USD 2,997.09USD 2,757.93USD 239.16USD 54,639.66
Month 18USD 2,997.09USD 2,769.42USD 227.67USD 51,870.23
Month 19USD 2,997.09USD 2,780.96USD 216.13USD 49,089.27
Month 20USD 2,997.09USD 2,792.55USD 204.54USD 46,296.72
Month 21USD 2,997.09USD 2,804.19USD 192.90USD 43,492.53
Month 22USD 2,997.09USD 2,815.87USD 181.22USD 40,676.66
Month 23USD 2,997.09USD 2,827.60USD 169.49USD 37,849.06
Month 24USD 2,997.09USD 2,839.39USD 157.70USD 35,009.67
Month 25USD 2,997.09USD 2,851.22USD 145.87USD 32,158.45
Month 26USD 2,997.09USD 2,863.10USD 133.99USD 29,295.36
Month 27USD 2,997.09USD 2,875.03USD 122.06USD 26,420.33
Month 28USD 2,997.09USD 2,887.00USD 110.08USD 23,533.33
Month 29USD 2,997.09USD 2,899.03USD 98.06USD 20,634.29
Month 30USD 2,997.09USD 2,911.11USD 85.98USD 17,723.18
Month 31USD 2,997.09USD 2,923.24USD 73.85USD 14,799.94
Month 32USD 2,997.09USD 2,935.42USD 61.67USD 11,864.51
Month 33USD 2,997.09USD 2,947.65USD 49.44USD 8,916.86
Month 34USD 2,997.09USD 2,959.94USD 37.15USD 5,956.92
Month 35USD 2,997.09USD 2,972.27USD 24.82USD 2,984.65
Month 36USD 2,997.09USD 2,984.65USD 12.44USD 0.00

Displayed amounts are rounded. Actual bills may differ with payment dates, fees and lender rounding.

See formula and assumptions

Monthly payment = P × r / (1 − (1+r)^−n). At zero interest, payment = P/n.

How much will you borrow?
Enter only the money borrowed, not future interest.
Yearly interest rate
Enter the annual rate quoted by the lender or account. For 5% per year, enter 5.
Repayment period
One year is 12 months. Enter the time until the loan is fully repaid.

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