Loan payment calculator

Estimate the monthly payment, total interest and total cost of a fixed-rate loan, and see what an origination fee does to the amount you receive.

Loan amount$25,000

$1,000$500,000

Interest rate (APR if there’s no fee)14.9%

Starts at our example APR of 14.9%. Use the rate from your offer if you have one.

1%36%

Loan term

Origination fee0.0%

Some lenders take a fee out of the loan before you get it. Leave at 0% if yours doesn’t.

0%10%

Monthly payment

$865a month

36 payments of $865.41 at a 14.9% interest rate, before any fee.

Number of payments: 36 monthly
Total interest: $6,155
Total you’ll repay: $31,155
Origination fee: None
Amount you receive: $25,000
APR including the fee: 14.90%
Last payment: 36 months after the first

Estimates only, not an offer. Lenders set the actual rate, fees and terms. See example rates and terms.

See the payment schedule

By year: $25,000 at 14.9% APR, 36 monthly payments
Year	Payments	Principal paid	Interest paid	Balance at year end
1	12	$7,134.11	$3,250.81	$17,865.89
2	12	$8,272.78	$2,112.14	$9,593.11
3	12	$9,593.11	$791.75	$0.00

How to use this calculator

Set the amount you want to borrow.
Set the APR. It starts at our example APR of 14.9%; if a lender has given you an offer, use its APR. If you only have an interest rate, enter that and add any fee in the last step; the results then show the APR including the fee.
Choose the number of months you’d repay over.
If the lender charges an origination fee, set it as a percentage of the loan.

Comparing a merchant cash advance or short-term loan quoted with a factor rate? Use the factor rate to APR calculator instead.

How to read the results

Monthly payment: what you’d pay each month, rounded to the dollar. The line below shows it to the cent.
Total interest: everything you pay on top of the amount borrowed.
Total you’ll repay: every payment added together.
Amount you receive: the loan minus any origination fee. This is the money that reaches your account.
APR including the fee: the yearly cost once the fee is counted. Compare offers using this figure.
Last payment: the month your last payment would be due if the first is due next month.

How the payment is calculated

The calculator uses the standard formula for a fixed-rate loan with equal monthly payments. It divides the APR by 12 to get a monthly rate, then finds the single payment that pays off the amount, plus interest on the remaining balance each month, by the final month. Early payments are mostly interest; later ones are mostly principal. The payment schedule shows the split year by year.

An origination fee doesn’t change the payment, because you repay the full loan amount. It reduces what you receive, so the APR including the fee is higher than the interest rate. See example rates and terms for the examples we use across the site.

Send your request to lenders

Tell us what you need. We share your request with lenders, loan brokers and marketing partners in our network, who may contact you with offers.

Time to fill in: About a minute
Effect on your credit: Sending this form doesn’t affect your credit score. Lenders may run a soft check to show offers, and a hard inquiry if you apply.
Who you’re dealing with: FastLoan is a matching service, not a lender.
Cost to use FastLoan: Nothing. Lenders set their own rates and fees.

First name

Last name

Phone

How much do you need?

Term (optional)

What’s it for?

I agree that FastLoan and the lenders, loan brokers and marketing partners in our network that receive my request may call or text the number above about my request, including by automated means. Consent is not required to get offers. Message and data rates may apply. Reply STOP to opt out.

FastLoan is a matching service, not a lender. We don’t make loans or credit decisions. When you send this form, we share your details with lenders, loan brokers and marketing partners in our network, who may contact you. We may be paid by them. By sending it you agree to our terms of use. Privacy policy.