Free online Monthly Payment Calculator. Quickly calculate monthly payments for mortgages, auto loans, and personal loans. Supports amortized and equal principal methods with full payment comparison.
Zero-dependency Β· Works offlineπ’ Input Parameters
Total amount you plan to borrow
Annual interest rate
Total repayment period
π΅ Monthly Payment
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Amount due each month
π Total Payment
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Principal + interest total
π Total Interest
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Interest paid over loan life
π Interest Ratio
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Interest as % of total cost
π First Month Principal
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Principal portion in first payment
π
Last Month Interest
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Interest in final payment
π About Monthly Payments
Amortized vs Equal Principal
Amortized: fixed monthly payment, higher interest initially. Equal Principal: fixed principal payment, decreasing total. Equal principal saves more interest overall.
How to Reduce Interest?
1) Shorter loan term; 2) Larger down payment; 3) Choose equal principal; 4) Extra or bi-weekly payments.