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Payment Calculator

Payment calculator is a tool to calculate the monthly payment for any loan or debt. The monthly loan payment calculator generates an amortization schedule that shows your payment details such as the interest and remaining balance.

Loan Calculator

Loan Amount
Loan Terms
years
Interest Rate
First Payment Date
Amortization schedule
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Loan Payment Calculator

Loan Amount:
$18,500.00
Monthly Payment:
$303.55
Total # Of Payments:
72
Start Date:
Dec, 2024
Payoff Date:
Nov, 2030
Total Interest Paid:
$3,355.69
Total Payment:
$21,855.69

Payment Amortization Schedule

Payment Date Payment # Interest Paid Principal Paid Total Payment Remaining Balance
Dec, 2024 1 $87.10 $216.45 $303.55 $18,283.55
Jan, 2025 2 $86.09 $217.47 $303.55 $18,066.09
Feb, 2025 3 $85.06 $218.49 $303.55 $17,847.60
Mar, 2025 4 $84.03 $219.52 $303.55 $17,628.08
Apr, 2025 5 $83.00 $220.55 $303.55 $17,407.53
May, 2025 6 $81.96 $221.59 $303.55 $17,185.93
Jun, 2025 7 $80.92 $222.63 $303.55 $16,963.30
Jul, 2025 8 $79.87 $223.68 $303.55 $16,739.62
Aug, 2025 9 $78.82 $224.74 $303.55 $16,514.88
Sep, 2025 10 $77.76 $225.79 $303.55 $16,289.09
Oct, 2025 11 $76.69 $226.86 $303.55 $16,062.23
Nov, 2025 12 $75.63 $227.92 $303.55 $15,834.31
Dec, 2025 13 $74.55 $229.00 $303.55 $15,605.31
Jan, 2026 14 $73.48 $230.08 $303.55 $15,375.23
Feb, 2026 15 $72.39 $231.16 $303.55 $15,144.07
Mar, 2026 16 $71.30 $232.25 $303.55 $14,911.83
Apr, 2026 17 $70.21 $233.34 $303.55 $14,678.49
May, 2026 18 $69.11 $234.44 $303.55 $14,444.05
Jun, 2026 19 $68.01 $235.54 $303.55 $14,208.50
Jul, 2026 20 $66.90 $236.65 $303.55 $13,971.85
Aug, 2026 21 $65.78 $237.77 $303.55 $13,734.08
Sep, 2026 22 $64.66 $238.89 $303.55 $13,495.19
Oct, 2026 23 $63.54 $240.01 $303.55 $13,255.18
Nov, 2026 24 $62.41 $241.14 $303.55 $13,014.04
Dec, 2026 25 $61.27 $242.28 $303.55 $12,771.77
Jan, 2027 26 $60.13 $243.42 $303.55 $12,528.35
Feb, 2027 27 $58.99 $244.56 $303.55 $12,283.78
Mar, 2027 28 $57.84 $245.72 $303.55 $12,038.07
Apr, 2027 29 $56.68 $246.87 $303.55 $11,791.20
May, 2027 30 $55.52 $248.03 $303.55 $11,543.16
Jun, 2027 31 $54.35 $249.20 $303.55 $11,293.96
Jul, 2027 32 $53.18 $250.38 $303.55 $11,043.59
Aug, 2027 33 $52.00 $251.55 $303.55 $10,792.03
Sep, 2027 34 $50.81 $252.74 $303.55 $10,539.29
Oct, 2027 35 $49.62 $253.93 $303.55 $10,285.36
Nov, 2027 36 $48.43 $255.12 $303.55 $10,030.24
Dec, 2027 37 $47.23 $256.33 $303.55 $9,773.91
Jan, 2028 38 $46.02 $257.53 $303.55 $9,516.38
Feb, 2028 39 $44.81 $258.74 $303.55 $9,257.64
Mar, 2028 40 $43.59 $259.96 $303.55 $8,997.67
Apr, 2028 41 $42.36 $261.19 $303.55 $8,736.49
May, 2028 42 $41.13 $262.42 $303.55 $8,474.07
Jun, 2028 43 $39.90 $263.65 $303.55 $8,210.42
Jul, 2028 44 $38.66 $264.89 $303.55 $7,945.52
Aug, 2028 45 $37.41 $266.14 $303.55 $7,679.38
Sep, 2028 46 $36.16 $267.39 $303.55 $7,411.99
Oct, 2028 47 $34.90 $268.65 $303.55 $7,143.33
Nov, 2028 48 $33.63 $269.92 $303.55 $6,873.42
Dec, 2028 49 $32.36 $271.19 $303.55 $6,602.23
Jan, 2029 50 $31.09 $272.47 $303.55 $6,329.76
Feb, 2029 51 $29.80 $273.75 $303.55 $6,056.01
Mar, 2029 52 $28.51 $275.04 $303.55 $5,780.98
Apr, 2029 53 $27.22 $276.33 $303.55 $5,504.64
May, 2029 54 $25.92 $277.63 $303.55 $5,227.01
Jun, 2029 55 $24.61 $278.94 $303.55 $4,948.07
Jul, 2029 56 $23.30 $280.25 $303.55 $4,667.82
Aug, 2029 57 $21.98 $281.57 $303.55 $4,386.24
Sep, 2029 58 $20.65 $282.90 $303.55 $4,103.34
Oct, 2029 59 $19.32 $284.23 $303.55 $3,819.11
Nov, 2029 60 $17.98 $285.57 $303.55 $3,533.54
Dec, 2029 61 $16.64 $286.91 $303.55 $3,246.63
Jan, 2030 62 $15.29 $288.26 $303.55 $2,958.36
Feb, 2030 63 $13.93 $289.62 $303.55 $2,668.74
Mar, 2030 64 $12.57 $290.99 $303.55 $2,377.75
Apr, 2030 65 $11.20 $292.36 $303.55 $2,085.40
May, 2030 66 $9.82 $293.73 $303.55 $1,791.67
Jun, 2030 67 $8.44 $295.12 $303.55 $1,496.55
Jul, 2030 68 $7.05 $296.50 $303.55 $1,200.05
Aug, 2030 69 $5.65 $297.90 $303.55 $902.15
Sep, 2030 70 $4.25 $299.30 $303.55 $602.84
Oct, 2030 71 $2.84 $300.71 $303.55 $302.13
Nov, 2030 72 $1.42 $302.13 $303.55 $0.00

What is the monthly payment?

Whether you are getting a personal loan, car loan, or a home mortgage, chances are that you will need to apply for a loan. Once you are approved for the loan, you will get a lump sum to help purchase a car or a house, you will then be required to make monthly payments to pay back your lender plus interest.


What is the payment calculator for?

Our payment calculator will help you know the exact monthly and total costs of getting a loan. The payment calculator shows you how much you will pay each month based on the loan amount, interest rate, and loan terms. Knowing how much a loan cost helps you better prepare your finances and avoid costly loans and marketing scams and tricks from unethical lenders.


Payment Amortization Schedule

The payment calculator generates a payment amortization schedule that shows the monthly payment breakdown. Your monthly payment will include both principal and interest. You will know how long it takes to pay off your loan, and the remaining balance at any point.


Does the payment calculator include extra payments?

While the default payment calculator does not have an option for extra payments, our extra payment calculator has built-in functionality for additional principal payments that allow borrowers to pay more each month and save money on interest.


Can I calculate biweekly payments?

The biweekly payment calculator allows borrowers to calculate for biweekly payments which is another type of extra payment to allow borrowers to pay off their loan faster and hence save money on interest.


Can I calculate interest-only payments?

Our interest-only payment calculator gives borrowers the ability to calculate for interest-only loans. Interest-only are loans that allow the borrower to make lower interest-only payments initially for a predetermined period, usually a few years. After the initial period is over, the borrower is required to make large monthly payments that include principal and interest.

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