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Loan amortization calculator

Find the monthly payment and total interest for any fixed-rate loan.

Runs 100% in your browser
Monthly payment
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Total interest
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Total repaid
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Payments
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How to calculate loan amortization

  1. Enter the loan. Type the loan amount and annual interest rate.
  2. Set the term. Enter the term in years (e.g. 30 for a mortgage, 5 for a car loan).
  3. Read the payment. See the monthly payment, total interest and total repaid.

Where your payment goes

On a long loan the total interest can rival the amount borrowed — which is why a lower rate or a shorter term saves so much. The flip side is the same compounding that works for you in the compound interest calculator, working against you. Convert any quoted rate with the APY calculator.

Educational tool only — not financial advice. Principal and interest only; excludes taxes, insurance and fees.

Frequently asked questions

What is loan amortization?
Amortization is paying off a loan with equal periodic payments. Early payments are mostly interest; over time more of each payment goes to principal. This calculator gives the monthly payment, total interest and total paid.
How is the monthly payment calculated?
Payment = P · i ÷ (1 − (1 + i)^−n), where P is the loan amount, i the monthly rate (annual ÷ 12), and n the number of months. The calculator does this for you.
Does this work for mortgages, auto and personal loans?
Yes — any fixed-rate amortizing loan. Enter the amount, annual rate and term in years.
Does it include taxes, insurance or fees?
No — it’s principal and interest only. Real mortgage payments may add escrow for taxes and insurance.
Is anything uploaded?
No — it computes in your browser.

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