FREE ONLINE CALCULATOR
Estimate the monthly payment on a fixed-rate loan and see how much interest you will pay over the complete term.
Enter the borrowed amount, annual interest rate, and loan length. The calculator uses fixed monthly payments due at the end of each month, with the annual rate divided by 12. Fractional-year terms round to the nearest whole month. Fees, insurance, taxes, and lender-specific charges are not included. At zero interest, each payment equals the loan amount divided by the number of months.
A 12,000 loan over one year at 0% interest gives 12 payments of 1,000.
The calculator uses the principal, monthly interest rate, and number of payments in a standard fixed-rate amortization formula.
No. It estimates principal and interest only.
Yes. Set the annual interest rate to zero. The loan amount is divided evenly across the monthly payments.
Yes. It works for many fixed-rate installment loans.