Loan payment
Estimate a fixed-rate monthly repayment.
Fixed-rate annuity with equal monthly payments. The annual rate is divided by 12. Fees, insurance and rate changes are excluded. This is an estimate, not a lender quote.
Common questions
What does this monthly loan payment calculator include?
It models a loan with equal monthly payments, a fixed nominal annual interest rate and full repayment by the end of the term. The payment includes principal and interest. Arrangement fees, insurance and other charges are not added automatically, so the result is not a lender's offer.
Should I enter the nominal interest rate or the APR?
Use the nominal annual interest rate for this model. APR also reflects certain borrowing charges and is useful when comparing loan costs, but entering it here does not recreate the timing of those charges. Compare the lender's APR, total amount payable and payment schedule separately.
How is the payment calculated when the interest rate is zero?
The principal is divided by the number of monthly payments. The term in years is converted to months and rounded to a whole month. A zero interest input does not remove fees a lender may charge; those costs are outside this calculation.
Does a longer loan term always make borrowing cheaper?
No. With the same principal and a positive fixed rate, a longer term generally reduces the monthly payment while increasing total interest. This model shows that trade-off. Variable rates, early repayments and lender-specific fees can change the actual payment schedule and total cost.
Sources and further reading
A global market. Local rules.
Check the authority responsible for your country and the legal entity providing the service. Keep purchase, sale, swap and transfer records. Your tax residence and the product you use determine which guidance applies; the links below are general starting points.