Loan Calculator

Use this loan calculator to see how your loan changes based on changing conditions. You can adjust the initial loan amount, the loan period, the interest rate and additional payments made on top of the monthly minimum.

See how changes to these categories change how much interest you pay over the course of the loan, how they affect your monthly payments, and how they affect your estimated payoff date. View your amortization schedule and charts reflecting principal and interest paid at various points over the course of the loan. This calculator can be used for school loan, mortgage, auto and any other fixed loan types.

Things to keep in mind when using this loan calculator. If you are in the middle of your loan, you can set the "Loan amount" to your current outstanding loan balance, and the "Loan period" to however many months (number of payments) are left on the loan. For the "Summary Charts" section, hover over charts (or touch them if you're on a mobile device) to see details about that part of the chart. The "Summary Charts" and "Amortization Schedule" sections are collapsible if you click (or touch) those section headers.

Calculate Loan Payments

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Results

Minimum monthly payment

$93.22

Total Principal Paid $5,000

Total Interest Paid $594


Total loan cost $5,594

Estimated payoff date

January 02, 2028

Summary Charts

Payment Date Payment Principal Interest Total Interest Balance
Feb 2023 $93.22 $74.47 $18.75 $18.75 $4,925.53
Mar 2023 $93.22 $74.74 $18.48 $37.24 $4,850.79
Apr 2023 $93.22 $75.02 $18.20 $55.44 $4,775.78
May 2023 $93.22 $75.31 $17.91 $73.34 $4,700.46
Jun 2023 $93.22 $75.59 $17.63 $90.97 $4,624.87
Jul 2023 $93.22 $75.87 $17.36 $108.32 $4,549.00
Aug 2023 $93.22 $76.16 $17.06 $125.38 $4,472.84
Sep 2023 $93.22 $76.44 $16.78 $142.16 $4,396.40
Oct 2023 $93.22 $76.73 $16.49 $158.65 $4,319.67
Nov 2023 $93.22 $77.02 $16.20 $174.85 $4,242.65
Dec 2023 $93.22 $77.31 $15.91 $190.76 $4,165.34
Jan 2024 $93.22 $77.59 $15.63 $206.39 $4,087.75
Feb 2024 $93.22 $77.89 $15.33 $221.72 $4,009.86
Mar 2024 $93.22 $78.19 $15.04 $236.76 $3,931.67
Apr 2024 $93.22 $78.47 $14.75 $251.51 $3,853.20
May 2024 $93.22 $78.77 $14.45 $265.96 $3,774.43
Jun 2024 $93.22 $79.06 $14.16 $280.12 $3,695.37
Jul 2024 $93.22 $79.36 $13.86 $293.98 $3,616.01
Aug 2024 $93.22 $79.66 $13.57 $307.55 $3,536.35
Sep 2024 $93.22 $79.95 $13.27 $320.82 $3,456.40
Oct 2024 $93.22 $80.25 $12.97 $333.79 $3,376.15
Nov 2024 $93.22 $80.55 $12.67 $346.46 $3,295.60
Dec 2024 $93.22 $80.86 $12.36 $358.83 $3,214.74
Jan 2025 $93.22 $81.16 $12.06 $370.89 $3,133.58
Feb 2025 $93.22 $81.46 $11.76 $382.65 $3,052.12
Mar 2025 $93.22 $81.77 $11.45 $394.09 $2,970.35
Apr 2025 $93.22 $82.08 $11.14 $405.23 $2,888.27
May 2025 $93.22 $82.38 $10.84 $416.07 $2,805.89
Jun 2025 $93.22 $82.69 $10.53 $426.60 $2,723.20
Jul 2025 $93.22 $83.00 $10.23 $436.82 $2,640.20
Aug 2025 $93.22 $83.31 $9.91 $446.73 $2,556.89
Sep 2025 $93.22 $83.63 $9.59 $456.32 $2,473.27
Oct 2025 $93.22 $83.94 $9.28 $465.60 $2,389.33
Nov 2025 $93.22 $84.26 $8.98 $474.56 $2,305.06
Dec 2025 $93.22 $84.57 $8.65 $483.21 $2,220.49
Jan 2026 $93.22 $84.89 $8.33 $491.54 $2,135.60
Feb 2026 $93.22 $85.21 $8.01 $499.55 $2,050.39
Mar 2026 $93.22 $85.53 $7.69 $507.24 $1,964.86
Apr 2026 $93.22 $85.85 $7.37 $514.61 $1,879.01
May 2026 $93.22 $86.17 $7.05 $521.66 $1,792.84
Jun 2026 $93.22 $86.49 $6.73 $528.39 $1,706.35
Jul 2026 $93.22 $86.82 $6.40 $534.79 $1,619.53
Aug 2026 $93.22 $87.14 $6.08 $540.87 $1,532.39
Sep 2026 $93.22 $87.47 $5.75 $546.62 $1,444.92
Oct 2026 $93.22 $87.80 $5.42 $552.04 $1,357.12
Nov 2026 $93.22 $88.13 $5.09 $557.13 $1,268.99
Dec 2026 $93.22 $88.46 $4.76 $561.89 $1,180.53
Jan 2027 $93.22 $88.79 $4.43 $566.33 $1,091.74
Feb 2027 $93.22 $89.12 $4.10 $570.42 $1,002.62
Mar 2027 $93.22 $89.46 $3.76 $574.18 $913.16
Apr 2027 $93.22 $89.79 $3.43 $577.61 $823.37
May 2027 $93.22 $90.13 $3.09 $580.71 $733.24
Jun 2027 $93.22 $90.47 $2.75 $583.46 $642.77
Jul 2027 $93.22 $90.80 $2.42 $585.87 $551.97
Aug 2027 $93.22 $91.15 $2.07 $587.95 $460.82
Sep 2027 $93.22 $91.49 $1.73 $589.67 $369.33
Oct 2027 $93.22 $91.83 $1.39 $591.06 $277.50
Nov 2027 $93.22 $92.17 $1.05 $592.11 $185.33
Dec 2027 $93.22 $92.52 $0.70 $592.81 $92.81
Jan 2028 $93.16 $92.81 $0.35 $593.16 $0.00