Loan Payment Calculator
Loan Payment Calculator is a free finance tool that runs directly in your browser with no account required.
About this tool
This calculator computes the fixed monthly payment for a loan and builds a full amortization schedule from the loan amount, interest rate, and term. Add an extra monthly payment to see how much sooner the loan is paid off and how much interest you avoid. A year-by-year breakdown appears on screen, and a month-by-month schedule is available as a CSV download.
How to use
- Enter the Loan amount and the Annual interest % for your loan.
- Set Term years to the scheduled length of the loan, such as 15 or 30.
- Optionally add an Extra monthly payment to model accelerated payoff.
- Review the monthly payment, payoff time, and yearly table, then use Download amortization CSV for the full month-by-month schedule.
Frequently asked questions
Which formula does this calculator use?
It uses the standard fixed-rate amortization formula with monthly compounding: the annual rate is divided by 12 and the payment is computed so the balance reaches zero over the scheduled number of months.
How do extra payments change my payoff date?
The extra amount is applied to principal every month, so the balance falls faster than scheduled. The results show the new payoff time and the total interest saved compared with making only the base payment.
What does the CSV download contain?
One row per month with the payment, the principal portion, the interest portion, and the remaining balance, so you can chart or audit the full schedule in a spreadsheet.
Does it handle a 0% interest rate?
Yes. With a 0% rate the payment is simply the loan amount divided by the number of months, and every payment goes entirely to principal.
Is my loan information sent anywhere?
No. Everything is calculated in your browser with JavaScript; no numbers are uploaded and no account is required.
Can I rely on these numbers for my actual loan?
Treat them as estimates. Real loans can include fees, escrow, rounding rules, or variable rates that this fixed-rate model does not capture, and nothing here is financial advice.