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Calculators

Loan Payment Calculator: Monthly Repayment

A fixed-rate loan splits every payment into interest and principal. This calculator estimates the level monthly payment for a given amount, nominal annual rate and term in years — the same arithmetic behind mortgage and auto-loan quotes.

Loan Payment Calculator: Monthly Repayment — payment = P(r⁄12) ⁄ (1 − (1 + r⁄12)^(−12n))
Result
Result hidden until you press Evaluate.

Processed — press the button to show the result.

Want simplification, history or saving? Open it in the formula tool.

How the estimate works

Enter the principal P, the nominal annual rate r as a decimal, and the term n in years. The widget preloads a 250,000 loan at 4.8% over 30 years; change any value and press Evaluate. The formula assumes a fixed rate, monthly compounding and no extra payments.

What quotes add on top

Real offers add fees, insurance, taxes and sometimes rate changes — none of which this formula includes. Use the estimate to compare scenarios, then confirm the full cost with the lender's disclosure.

Keep in mind

  • Illustration only — not a loan offer, approval or advice.
  • The rate must be positive and the term in whole years for the standard formula to apply.

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