The formula, made clear.
Uses the standard amortising-loan formula. Taxes, fees, insurance and variable rates are not included.
Results are general estimates only and are not financial, lending, tax or legal advice. Confirm terms with your lender.
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MONEY TOOL
Loan Payment Calculator
Estimate a fixed monthly loan payment, total repayment and interest from the amount, rate and term.
Estimated monthly payment304.22Total repaid 10,951.9 · Interest 951.9
When to use this calculator
Estimate payments for a fixed-rate, fully amortising loan before comparing offers. The output separates the monthly payment, total repaid and estimated interest over the selected term.
See the calculation in context
For 10,000 at 6% annual interest over 3 years, the estimated payment is about 304.22 per month. Actual lender figures may differ because of fees, insurance, payment timing and rounding.
Frequently asked questions
What happens when the rate is zero?
The principal is divided equally across the number of monthly payments.
Does this cover reducing-balance loans?
Yes, it uses the standard reducing-balance amortisation formula for fixed monthly payments.