Loan Payment Calculator
Work out the monthly payment and total interest on a personal or car loan. Works for the US, UK and Europe.
Monthly payment
Total interest
Total repaid
How it works
Monthly payment = L x r / (1 - (1 + r)^-n), where L is the loan amount, r is the annual rate divided by 12 and n is the number of months.
Example: a 15,000 loan at 8.5% over 5 years costs about 307.75 a month and 3,465 in interest. Fees and insurance are not included.
Frequently asked questions
Does a longer term cost more?
Usually yes. The monthly payment is lower, but you pay interest for longer.
Is the rate the APR?
Use the interest rate for a close estimate. APR also includes fees, so it is a little higher.
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Last updated October 2026. For information only, not financial advice.