Loan Calculator
Loan Payment
Calculate monthly payment for any loan
$
%
mo
Payoff Time
How long to pay off a loan with a fixed monthly payment
$
%
$
Formula
M = P[r(1+r)^n] / [(1+r)^n - 1]
Frequently Asked Questions
How is a loan payment calculated?
Monthly payment = P[r(1+r)^n]/[(1+r)^n-1], where P = loan amount, r = monthly interest rate, n = number of months. This formula assumes fixed-rate, fully amortizing loans.
What is a good interest rate for a personal loan?
As of 2026, good personal loan rates range from 6-12% for excellent credit (750+), 12-18% for good credit (700-749), and 18-30% for fair credit. Rates vary by lender, loan amount, and term.
You may also need
$
Mortgage Calculator
Free mortgage calculator. Estimate monthly mortgage payments, total interest, and amortization for your home loan. Compare different rates and terms.
Finance$
Compound Interest Calculator
Free compound interest calculator. See how your savings or investments grow over time with compound interest. Compare different rates and time periods.
Finance%
Percentage Calculator
Free online percentage calculator. Find percentages, percentage change, percentage difference, and more. Fast, accurate, no signup required.
Math