Mini-App · Calculators
Loan payment calculator: monthly payment and total interest
For small business owners weighing an equipment loan, a vehicle note or an SBA loan. Type the amount you borrow, the yearly interest rate and the number of months.
You get the fixed monthly payment rounded to the cent, the total you will repay, and the total interest the loan costs you beyond the amount borrowed.
Results update as you type. Free to use.
Monthly payment
$386.66
Total interest paid
$3,199.6
- Total amount repaid
- $23,199.6
How to use it
- 1Type the loan amount you are borrowing.
- 2Type the yearly interest rate as a number, for example 6 for 6%. Type 0 for an interest-free loan.
- 3Type the length of the loan in months, for example 60 for 5 years.
- 4Monthly payment is your fixed monthly installment, rounded to the cent. Total interest paid is what the loan costs you beyond the amount borrowed.
Common questions
How do I enter the interest rate?
Type the yearly rate as a plain number, for example 6 for 6% or 7.25 for 7.25%. Type 0 for an interest-free loan, and the payment is simply the loan amount divided by the number of months.
Does the monthly payment include fees, taxes or insurance?
No. It is the standard fixed principal-and-interest installment based only on the amount borrowed, the yearly rate and the term. Add any origination fees, insurance or escrow your lender charges on top.
How much does it cost to use?
Nothing. Calculators are free, so you can try as many loan amounts, rates and terms as you like to compare offers.
Is the information I type kept private?
Yes. You only enter three numbers, with no file upload and no account or bank details. Your loan figures are used to compute the results and are not shared.