Home › Tools › Monthly Payment Calculator

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 · Works offline

🔢 Input Parameters

Loan Amount ($)

Total amount you plan to borrow

Annual Interest Rate (%)

Annual interest rate

Loan Term (Years)

Total repayment period

Payment Method

💵 Monthly Payment
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Amount due each month

📊 Total Payment

Principal + interest total

📈 Total Interest

Interest paid over loan life

📉 Interest Ratio

Interest as % of total cost

🏠 First Month Principal

Principal portion in first payment

📅 Last Month Interest

Interest in final payment

📖 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.