Loan Payment Calculator
Calculate fixed-rate loan payments with an optional down payment. Compare principal and interest totals, then review or export the repayment schedule.
Enter your figures or load an illustrative example, then select Calculate.
Payment = P × r ÷ (1 − (1 + r)−n), where P = financed principal, r = nominal annual rate ÷ payments per year, and n = payment periods. At 0% interest, payment = P ÷ n.
These are fixed-rate planning estimates. Currency changes the display only. Lenders may use different compounding, day-count, fees, or rounding conventions. This model uses equal periods and no extra payments. Calculations stay in this browser and are not saved.
How to use Loan Payment Calculator
- Enter the purchase amount and any down payment as an amount or percentage.
- Enter the nominal annual rate, term, payment frequency, and display currency.
- Calculate the payment, totals, and amortization schedule. Export the full schedule when needed.
What is Loan Payment Calculator?
The loan principal is the entered amount minus the down payment. For a fixed-rate amortizing loan, payments cover period interest and gradually reduce principal. The period rate is the nominal annual rate divided by 12, 26, 52, or 1 according to the selected frequency. This is a mathematical payment model, not a lender's APR or fee quotation.
- Monthly, biweekly, weekly, or annual payment periods
- Down payment as money or percentage
- Zero-interest support and adjusted final payoff
- Paginated amortization schedule with CSV export
A practical example
$10,000 amount · $1,000 down 5 years · 5% annual rate · monthly
$9,000 principal Regular payment approximately $169.84
Frequently asked questions
Why does a lender quote a different payment?
A lender can use different day-count, compounding, fee, insurance, or rounding rules. This calculator uses the clearly stated fixed nominal-rate model.
Why must the term fit a whole number of payments?
The schedule uses equal whole periods. A term that cannot be expressed as an integer number of the selected periods must be adjusted rather than silently rounded.
Why can displayed payments differ by a cent?
The fixed-payment model keeps decimal precision internally. The displayed schedule allocates cents between periods so the rounded totals reconcile. The final calculation settles the remaining principal and interest, leaving a zero closing balance.