Money utility
Loan Payment Calculator
Short answer: Use this free loan payment calculator to enter loan amount and rate and get monthly payment instantly.
Tool input/output
Input: Loan amount + rate
Output: Monthly payment
How it works
Use the Loan Payment Calculator to estimate the monthly payment for a fixed-rate installment loan. It is useful for comparing personal loans, auto loans, equipment financing, or simple repayment scenarios.
Example
Example: a $12,000 loan at 6% APR for 3 years returns an estimated monthly payment of $365.06.
When to use it
- Quick money checks
- Estimating monthly payment
- Comparing options before using a detailed worksheet or official source
- Getting a clear answer from loan amount and rate