Payment Calculator

Calculate loan payment amounts for any loan type.

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Result

Fill in the fields above, then press Calculate.

Enter the loan amount, annual interest rate, loan term in years, and select how frequently you want to make payments. Click Calculate to see your payment amount, total cost, and a year-by-year amortization summary. Bi-weekly and weekly payment options help you pay off the loan faster and save on interest.

Examples

Auto Loan

A $25,000 auto loan at 5.5% for 5 years with monthly payments results in $477.53/month, totaling $28,651.80 with $3,651.80 in interest.

Bi-weekly Savings

Switching from monthly to bi-weekly payments on a $25,000 loan effectively makes 13 monthly payments per year, reducing total interest paid.

Frequently Asked Questions

Why choose bi-weekly over monthly payments?
Bi-weekly payments mean you make 26 half-payments per year, which equals 13 full monthly payments instead of 12. This extra payment goes toward principal and can significantly reduce your loan term and total interest.
Does payment frequency affect total interest?
Yes. More frequent payments reduce the outstanding balance faster, meaning less interest accrues between payments. Weekly payments save the most interest, followed by bi-weekly, then monthly.
What happens if my rate is 0%?
With a 0% interest rate, your payment is simply the loan amount divided evenly across all payment periods, with no interest charges.
Related Calculators
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Mortgage Calculator
Auto Loan Calculator

Quick Tips

Double check your inputs. Ensure units match (e.g., inches vs cm).

Did you know?
Calculators are estimates. Consult professionals for critical decisions.