CostLoan Payment Calculator
Estimate monthly loan payments, total repayment and total interest from loan amount, interest rate and term.
Enter your values and press Calculate.
Tip: country presets are starting points only. Replace rates and prices with your actual figures whenever possible.
How this calculator works
For a standard fixed-rate amortizing loan, the monthly payment is calculated from principal, monthly interest rate and number of monthly payments.
Formula
A $25,000 loan at 8% for 5 years costs about $507 per month and $5,415 in total interest. At the same rate over 3 years, the payment rises to about $783 per month and total interest falls to about $3,203. Compare both numbers to see what the lower monthly payment costs over the life of the loan.
Getting a more accurate result
- Enter the fixed annual interest rate used to accrue interest, often called the note rate. A disclosed APR can include fees, so using it as the interest rate can give a different payment from the lender schedule.
- Exclude taxes or insurance unless they are part of the financed payment.
- Compare different terms: a longer term lowers the payment but can increase total interest.
Understanding your result
The result is intended for comparison and planning. Real-world costs can differ because of local taxes, fees, tariffs, financing, usage patterns, equipment efficiency, rounding and other conditions. For important decisions, verify the inputs against your bill, contract, lender, employer or other authoritative source.
Frequently asked questions
Does this include lender fees?
No. Add fees to the financed amount if they are rolled into the loan.
Can I use 0% interest?
Yes. The calculator divides principal equally across the selected number of months.
Is APR always the same as the stated rate?
Not necessarily. APR can incorporate certain fees, so use the figure appropriate for your comparison.
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Reviewed for CostMeter V1.5 • September 2026