What is a Loan Payment?

A loan payment is the fixed amount you pay each period to repay a loan, including both principal and interest.

When to Use This Calculator

• Comparing auto loan or personal loan offers
• Estimating monthly budget for a new loan
• Seeing the benefit of making extra payments

Examples

Example 1: $10,000 loan at 5% over 60 months → $188.71/month

Example 2: $5,000 loan at 0% over 24 months → $208.33/month