Annual loan payment calculator
Inputs changed. Calculate again to update these results.
Amortization schedule — all payments
| Payment | Opening | Interest | Regular | Recurring extra | One-time extra | Total | Principal | Closing |
|---|
Fixed nominal annual rate, end-of-period payments and rounded cents. Model estimate; a lender’s daily interest, fees and rounding can differ.
Privacy choices
Saved settings and grouped usage
Save stores your settings on this device for 90 days. Files are separate downloads. Ads, when enabled, run on this page and can technically access inputs and local storage. Privacy details.
Optionally share broad amount, rate and term ranges, payment frequency, extras and feature counts to improve this tool. No exact loan values or visitor ID go to our product statistics; separate monthly category totals have no fixed expiry. Earlier totals cannot be linked back to you. Your choice lasts 180 days and you can withdraw it here. Calculating and downloading work either way.
One yearly payment or twelve monthly payments?
These are different payment schedules. For $10,000 at 6% over five model years, yearly payments are $2,373.96, with a $2,373.99 final payment and $1,869.83 total interest.
The monthly model gives $193.33 per payment. Twelve ordinary monthly payments total $2,319.96, but the balance falls during the year and interest is compounded monthly. This is not the same loan contract as one year-end payment.
Choose any of the six frequencies above to inspect its complete schedule. Compare payment frequency, model duration, effective annual rate and total cash together; a smaller individual payment does not establish a contract saving.
How this loan is calculated
This calculator models a new loan with a fixed interest rate. Each payment covers rounded interest first and then reduces principal. The final payment clears the remaining balance exactly.
Formula and rounding
The payment is P × i ÷ (1 − (1 + i)−n), where i is the nominal annual rate divided by payments per year. At zero interest it is P ÷ n. The regular payment and every interest row are rounded half-up to cents; totals are summed from the schedule.
There are no calendar dates, daily-interest calculations, fees, escrow, penalties or statutory APR calculations.