Toolarithm

Finance Calculator

Loan Payment Calculator

Calculate payments, loan amounts, and payoff time with fees and extra payments.

Plan your loan payments

See the payment, fees, and payoff together.

No exchange conversion. JPY rounds to whole yen.

Use the contract interest rate. A fee-inclusive APR can double-count fees when they are also entered below.

Choose what to calculate

Use an exact term from 1 to 600 whole months. Amount mode sizes the loan using the regular budget alone, before optional extra payments.

Origination fees

The percentage applies to the loan amount before fees; the fixed fee is then added. Upfront fees require separate cash. Financed fees accrue interest. Fees withheld from disbursement are not modeled.

Recurring extra payments

Zero keeps the extra ongoing until payoff.

The first and last selected months are included. Extra money follows the regular payment and reduces the remaining amount owed. The regular payment is not recast.

One-time extra payment

Applied after the regular and recurring extra payments, capped at the remaining amount owed.

Payments occur at the end of each modeled month.

Your projected loan plan

Regular monthly payment
$500.95
Payoff time
60  months60\;\text{months}
First actual payment
$500.95
Final actual payment
$500.91
Total interest
$5,056.96
Total cash paid including upfront fee
$30,056.96

Final payment month: Dec 2031.

Remaining debt: $0.00.

Funding and borrowing cost

Loan amount
$25,000.00
Origination fee
$0.00
Opening financed balance
$25,000.00
Separate upfront cash
$0.00
Regular payment budget
$500.95
Interest plus origination fee
$5,056.96

The origination fee is counted once in borrowing cost. Financing it also generates interest. Loan payments and separate upfront cash are both included in cash paid.

Compare without extra payments

Selected and regular-only loan plans
PlanPayoffInterest to dateRemaining
Your plan60  months60\;\text{months}$5,056.96$0.00
Regular only60  months60\;\text{months}$5,056.96$0.00

Months saved: 0  months0\;\text{months}.

Interest saved: $0.00.

The comparison keeps the same opening balance, fees, contract rate, and regular budget, with no recurring extra or one-time payment.

First-month calculation

Amounts are in USD. Rounded interest is added before the regular, recurring extra, and one-time payments.

B1=25000+156.25−500.95=24655.3B_1=25000+156.25-500.95=24655.3

Inputs saved with this plan

Calculation mode
payment
Currency
USD
Loan amount entered
25000
Contract annual interest percent entered
7.5
Whole years
5
Additional whole months
0
Fee treatment
upfront
Origination percentage entered
0
Fixed fee entered
0
Extra monthly amount entered
0
First extra month
1
Last extra month; zero means ongoing
0
One-time amount entered
0
One-time month
1
First payment month
2027-01

Monthly repayment schedule

Every selected-plan month is included. Scroll the table horizontally on a small screen. Negative principal reduction means the balance increased.

Full selected loan repayment ledger
Payment monthOpeningInterestRegular paidExtra paidOne-time paidTotal paidPrincipal reductionClosing
Jan 2027 (1)$25,000.00$156.25$500.95$0.00$0.00$500.95$344.70$24,655.30
Feb 2027 (2)$24,655.30$154.10$500.95$0.00$0.00$500.95$346.85$24,308.45
Mar 2027 (3)$24,308.45$151.93$500.95$0.00$0.00$500.95$349.02$23,959.43
Apr 2027 (4)$23,959.43$149.75$500.95$0.00$0.00$500.95$351.20$23,608.23
May 2027 (5)$23,608.23$147.55$500.95$0.00$0.00$500.95$353.40$23,254.83
Jun 2027 (6)$23,254.83$145.34$500.95$0.00$0.00$500.95$355.61$22,899.22
Jul 2027 (7)$22,899.22$143.12$500.95$0.00$0.00$500.95$357.83$22,541.39
Aug 2027 (8)$22,541.39$140.88$500.95$0.00$0.00$500.95$360.07$22,181.32
Sep 2027 (9)$22,181.32$138.63$500.95$0.00$0.00$500.95$362.32$21,819.00
Oct 2027 (10)$21,819.00$136.37$500.95$0.00$0.00$500.95$364.58$21,454.42
Nov 2027 (11)$21,454.42$134.09$500.95$0.00$0.00$500.95$366.86$21,087.56
Dec 2027 (12)$21,087.56$131.80$500.95$0.00$0.00$500.95$369.15$20,718.41
Jan 2028 (13)$20,718.41$129.49$500.95$0.00$0.00$500.95$371.46$20,346.95
Feb 2028 (14)$20,346.95$127.17$500.95$0.00$0.00$500.95$373.78$19,973.17
Mar 2028 (15)$19,973.17$124.83$500.95$0.00$0.00$500.95$376.12$19,597.05
Apr 2028 (16)$19,597.05$122.48$500.95$0.00$0.00$500.95$378.47$19,218.58
May 2028 (17)$19,218.58$120.12$500.95$0.00$0.00$500.95$380.83$18,837.75
Jun 2028 (18)$18,837.75$117.74$500.95$0.00$0.00$500.95$383.21$18,454.54
Jul 2028 (19)$18,454.54$115.34$500.95$0.00$0.00$500.95$385.61$18,068.93
Aug 2028 (20)$18,068.93$112.93$500.95$0.00$0.00$500.95$388.02$17,680.91
Sep 2028 (21)$17,680.91$110.51$500.95$0.00$0.00$500.95$390.44$17,290.47
Oct 2028 (22)$17,290.47$108.07$500.95$0.00$0.00$500.95$392.88$16,897.59
Nov 2028 (23)$16,897.59$105.61$500.95$0.00$0.00$500.95$395.34$16,502.25
Dec 2028 (24)$16,502.25$103.14$500.95$0.00$0.00$500.95$397.81$16,104.44
Jan 2029 (25)$16,104.44$100.65$500.95$0.00$0.00$500.95$400.30$15,704.14
Feb 2029 (26)$15,704.14$98.15$500.95$0.00$0.00$500.95$402.80$15,301.34
Mar 2029 (27)$15,301.34$95.63$500.95$0.00$0.00$500.95$405.32$14,896.02
Apr 2029 (28)$14,896.02$93.10$500.95$0.00$0.00$500.95$407.85$14,488.17
May 2029 (29)$14,488.17$90.55$500.95$0.00$0.00$500.95$410.40$14,077.77
Jun 2029 (30)$14,077.77$87.99$500.95$0.00$0.00$500.95$412.96$13,664.81
Jul 2029 (31)$13,664.81$85.41$500.95$0.00$0.00$500.95$415.54$13,249.27
Aug 2029 (32)$13,249.27$82.81$500.95$0.00$0.00$500.95$418.14$12,831.13
Sep 2029 (33)$12,831.13$80.19$500.95$0.00$0.00$500.95$420.76$12,410.37
Oct 2029 (34)$12,410.37$77.56$500.95$0.00$0.00$500.95$423.39$11,986.98
Nov 2029 (35)$11,986.98$74.92$500.95$0.00$0.00$500.95$426.03$11,560.95
Dec 2029 (36)$11,560.95$72.26$500.95$0.00$0.00$500.95$428.69$11,132.26
Jan 2030 (37)$11,132.26$69.58$500.95$0.00$0.00$500.95$431.37$10,700.89
Feb 2030 (38)$10,700.89$66.88$500.95$0.00$0.00$500.95$434.07$10,266.82
Mar 2030 (39)$10,266.82$64.17$500.95$0.00$0.00$500.95$436.78$9,830.04
Apr 2030 (40)$9,830.04$61.44$500.95$0.00$0.00$500.95$439.51$9,390.53
May 2030 (41)$9,390.53$58.69$500.95$0.00$0.00$500.95$442.26$8,948.27
Jun 2030 (42)$8,948.27$55.93$500.95$0.00$0.00$500.95$445.02$8,503.25
Jul 2030 (43)$8,503.25$53.15$500.95$0.00$0.00$500.95$447.80$8,055.45
Aug 2030 (44)$8,055.45$50.35$500.95$0.00$0.00$500.95$450.60$7,604.85
Sep 2030 (45)$7,604.85$47.53$500.95$0.00$0.00$500.95$453.42$7,151.43
Oct 2030 (46)$7,151.43$44.70$500.95$0.00$0.00$500.95$456.25$6,695.18
Nov 2030 (47)$6,695.18$41.84$500.95$0.00$0.00$500.95$459.11$6,236.07
Dec 2030 (48)$6,236.07$38.98$500.95$0.00$0.00$500.95$461.97$5,774.10
Jan 2031 (49)$5,774.10$36.09$500.95$0.00$0.00$500.95$464.86$5,309.24
Feb 2031 (50)$5,309.24$33.18$500.95$0.00$0.00$500.95$467.77$4,841.47
Mar 2031 (51)$4,841.47$30.26$500.95$0.00$0.00$500.95$470.69$4,370.78
Apr 2031 (52)$4,370.78$27.32$500.95$0.00$0.00$500.95$473.63$3,897.15
May 2031 (53)$3,897.15$24.36$500.95$0.00$0.00$500.95$476.59$3,420.56
Jun 2031 (54)$3,420.56$21.38$500.95$0.00$0.00$500.95$479.57$2,940.99
Jul 2031 (55)$2,940.99$18.38$500.95$0.00$0.00$500.95$482.57$2,458.42
Aug 2031 (56)$2,458.42$15.37$500.95$0.00$0.00$500.95$485.58$1,972.84
Sep 2031 (57)$1,972.84$12.33$500.95$0.00$0.00$500.95$488.62$1,484.22
Oct 2031 (58)$1,484.22$9.28$500.95$0.00$0.00$500.95$491.67$992.55
Nov 2031 (59)$992.55$6.20$500.95$0.00$0.00$500.95$494.75$497.80
Dec 2031 (60)$497.80$3.11$500.91$0.00$0.00$500.91$497.80$0.00

Model: fixed contract rate divided into monthly periods, payments at month end, half-up rounding at currency precision. Payment mode finds the smallest currency-unit payment clearing by the term; monthly rounding can differ from the unrounded annuity formula. No daily accrual, odd first periods, variable rates, balloon balances, escrow, taxes, insurance, penalties, or recasting. Projection limit: 600 months. Use your lender's quote for a settlement amount.

What Can You Create?

Build a loan plan around the question you need answered

A payment from your loan terms

Enter the amount, contract rate, and an exact term in whole months. See a scheduled payment that clears the rounded monthly ledger, plus the actual first and final payments when optional extras change the timeline.

A loan amount from your budget

Start with a regular monthly commitment and work backward to an amount you can finance under the chosen assumptions. Keep origination charges visible and inspect any upfront cash that the payment budget alone does not cover.

A payoff plan with extra money

Test a fixed payment, a temporary recurring extra, and a dated one-time contribution. Compare the resulting interest and end date with a regular-only plan using the same loan terms and opening balance.

Loan payment formulas and a worked example

Let the opening financed balance be PP, the numerical annual contract interest percentage be aa, and the number of monthly payments be NN. The unrounded fixed-payment annuity formula is:

r=a1200,M={Pr1−(1+r)−N,r>0PN,r=0r=\frac{a}{1200},\qquad M=\begin{cases}\dfrac{Pr}{1-(1+r)^{-N}},&r>0\\[6pt]\dfrac{P}{N},&r=0\end{cases}

The formula explains the relationship between balance, rate, and term. The actual schedule here rounds interest every month and searches whole currency units for the smallest regular payment clearing by the term. It may differ slightly from rounding the formula once. The final actual payment cannot exceed what remains due.

It=round⁡currency(Bt−1r),Bt=Bt−1+It−Rt−Et−LtI_t=\operatorname{round}_{\text{currency}}(B_{t-1}r),\qquad B_t=B_{t-1}+I_t-R_t-E_t-L_t

The regular, recurring extra, and one-time payments are RtR_t, EtE_t, and LtL_t. They are applied in that order and individually capped at the amount still owed. No negative balance or artificial refund is created by an oversized extra payment.

Step 1: Establish the opening balance and fee

Suppose you borrow 1,000 dollars and pay a two-percent origination fee plus a ten-dollar fixed charge. The fee totals 30 dollars. Paying it upfront leaves a 1,000-dollar opening loan balance; financing it raises that balance to 1,030 dollars.

F=1000⋅0.02+10=30,Pupfront=1000,Pfinanced=1000+30=1030F=1000\cdot0.02+10=30,\qquad P_{\text{upfront}}=1000,\qquad P_{\text{financed}}=1000+30=1030

Step 2: Calculate interest, then apply payments

Using the upfront-fee option, a contract rate of 12%12\% gives first-month interest of ten dollars. A regular payment of 100 dollars and an extra 25 dollars leave 885 dollars. The separate upfront fee does not enter this month's balance update.

I1=1000⋅121200=10,B1=1000+10−100−25=885I_1=1000\cdot\frac{12}{1200}=10,\qquad B_1=1000+10-100-25=885

Step 3: Repeat, compare, and reconcile the cash

The next month begins with 885 dollars, so rounded interest is 8.85 dollars at the same rate. Repeat until repayment or the simulation limit. Compare against the same 100-dollar regular payment without the 25-dollar extra, and include the fee once when assessing total borrowing cost.

I2=885⋅0.01=8.85,Cborrowing=∑tIt+FI_2=885\cdot0.01=8.85,\qquad C_{\text{borrowing}}=\sum_t I_t+F

For a completed loan, total cash paid consists of the actual loan payments plus any separate upfront fee. Subtracting the loan amount before fees reconciles to modeled interest plus origination charges. A financed fee is already inside loan payments and must not be added to cash paid a second time.

Ccash=∑t(Rt+Et+Lt)+Fupfront,Ccash−Pbase=CborrowingC_{\text{cash}}=\sum_t(R_t+E_t+L_t)+F_{\text{upfront}},\qquad C_{\text{cash}}-P_{\text{base}}=C_{\text{borrowing}}

Amount mode uses the same rounded ledger to find the largest supported loan amount that the regular budget repays by the term. Extra payments remain optional accelerators. These relationships assume fixed monthly interest and no additional lender charges, rather than an exact daily settlement quote.

Why Users Love This Tool

Understand the amount behind the advertised payment

Separate the cash components

  • Base loan amount, origination fee, financed balance, and upfront cash stay distinct.
  • Monthly interest rounds half up at the chosen currency precision before payments.
  • Every row separates regular, recurring extra, and one-time payments.
  • Signed principal reduction preserves months in which the balance grows.

Keep the model inspectable

  • Whole-year and whole-month terms prevent silent rounding of fractional periods.
  • Amount sizing excludes optional extras and labels the maximum supported input cap.
  • Incomplete projections show remaining debt and withhold lifetime savings.
  • CSV and copied summaries include active settings and calculation assumptions.
Perfect For

Useful for loan shopping and repayment reviews

Comparing installment offers

Use the same amount and term to compare fixed contract rates, then enter each offer's fees with the correct treatment. A smaller payment can simply reflect a longer term, so inspect interest and cash paid before drawing a conclusion.

Setting a household budget

Find a payment that fits alongside essentials, reserves, and existing obligations. Amount mode answers what that payment supports in this model; it does not estimate lender approval, creditworthiness, or whether the borrowing is appropriate for your household.

Planning principal reductions

Schedule a temporary increase after another bill ends or a one-time payment in a known month. Confirm how the lender applies additional funds and check the agreement for early repayment costs before relying on the modeled interest difference.

How It Works

How it works in three quick steps.

1

Choose the question and enter the loan terms

Calculate a monthly payment, find a loan amount from a payment budget, or estimate payoff time. Enter the contract annual interest rate and use whole years plus additional whole months when a term is required.

2

Add fees and scheduled extra payments

Choose whether origination fees are paid separately or financed. Enter any recurring extra-payment window, one-time payment, currency, and first payment month. Keep optional extras separate from the regular monthly budget.

3

Review the ledger and save the assumptions

Check funding, interest, cash paid, and remaining debt. Compare the regular-only plan, inspect every monthly row, and save both ledgers as CSV or print the selected schedule to PDF.

Download & Print

Download the ledger or print your repayment record

CSV with both full schedules

Download all selected and regular-only repayment rows, including dates, opening and closing balances, interest, and each payment component. Active settings preserve their entered precision so a rounded display does not erase the original scenario.

Landscape print and PDF

Choose Print / Save PDF, select landscape, and review the print preview. The print layout removes controls and supporting material while retaining result assumptions and every selected-plan month, including rows outside the screen's scroll area.

A reproducible saved calculation

Copy the plain-text summary or share an editable settings link. Link fragments contain readable financial values. Keep sensitive examples private and retain the lender's original disclosure alongside an estimate when comparing quoted terms.

FAQ

Frequently Asked Questions

How is a monthly loan payment calculated?
The familiar annuity formula uses the opening financed balance, monthly contract rate, and number of payments. This calculator additionally rounds each monthly interest charge at currency precision, then searches for the smallest fixed currency-unit payment that clears that rounded ledger by the chosen term. This avoids silently leaving a rounding residual after the term. The final actual payment is capped at the remaining amount owed.
Should I enter the interest rate or the APR?
Enter the contract annual interest rate used to accrue interest on the balance. APR can include origination charges and other costs, so entering a fee-inclusive APR and also adding those fees can count part of the cost twice. This tool reports explicit interest and fees rather than calculating a regulatory APR. Refer to the loan disclosure or ask the lender which rate applies to interest accrual.
How do upfront and financed origination fees differ?
An upfront fee is paid separately and does not increase the balance on which monthly interest is calculated. A financed fee is added to the loan amount before the repayment schedule begins, so it also generates interest. The percentage fee is calculated on the loan amount before fees, then the fixed fee is added. Fees deducted from proceeds, tiered charges, and fees on fees are outside this model.
How does the maximum loan amount mode work?
The calculator searches for the largest loan amount at the selected currency precision that the regular monthly budget can repay within the chosen term. Financed fees count toward the opening debt; upfront fees remain separate cash requirements. Optional extras are excluded when sizing the loan so a hoped-for windfall does not inflate regular-budget capacity. The search is capped at 100 million in the selected currency, and a capped result is labeled.
Can extra payments reduce the regular scheduled payment?
In this model, extra payments shorten the repayment timeline and can reduce interest while the regular scheduled payment stays unchanged. You can set an inclusive starting and ending month for recurring extras, with zero as the ending month meaning ongoing extras. A one-time amount follows the regular and recurring payments in its chosen month. A lender may have separate instructions for principal payments, recasting, or early repayment penalties.
Why might the payoff time be incomplete?
A fixed payment can be too small to clear the balance, especially when it does not cover interest. The simulation continues because a later extra-payment window or one-time amount may still repay the loan. If the balance remains after 600 months, or a conservative large-total precision guard is reached, the tool shows remaining debt and costs through the simulated period. Lifetime savings are withheld when either comparison is incomplete.
What happens with a zero interest rate or a zero balance?
At a zero interest rate, payments reduce the opening financed balance directly. Payment mode finds the smallest whole currency-unit amount that clears the selected term, and the final payment can be smaller. A loan amount that rounds to zero produces no repayment rows and no origination fee. Monetary inputs round half up, to cents for the listed two-decimal currencies and to whole yen for JPY.
Why can my bank's repayment schedule be different?
This calculator uses equal monthly periods, a fixed rate, and end-of-month payments. A bank may accrue interest daily, use a different day-count convention, collect an odd first payment, round differently, or include insurance and other charges. Variable rates, balloon payments, late fees, and prepayment penalties are excluded. The displayed calendar identifies the first modeled payment month; it does not recreate an exact disbursement-to-payment interval.
What is included in the total borrowing cost?
For a completed plan, borrowing cost consists of modeled interest plus the origination fee counted once. Total cash paid includes all loan payments and any separate upfront fee. Financing a fee puts that fee inside loan payments and generates additional interest. For an incomplete plan, costs are labeled through the simulated period and remaining debt stays visible; those partial figures are not presented as the full lifetime price.
Can I export or share the full loan calculation?
CSV includes every row of the selected and regular-only plans, active inputs at their entered precision, fees, statuses, and assumptions. Print retains the full selected ledger; choose landscape and Save as PDF for the wide table. Copy provides a text summary, while sharing saves settings in the link fragment. Anyone holding that link can read the financial inputs, so distribute personal scenarios with care.
About This Tool

About this fixed-rate loan repayment planner

A loan payment is only one part of a borrowing decision. The opening balance may include financed fees, an upfront charge may require separate cash, and a longer term can reduce the monthly amount while increasing the period over which interest accrues. Toolarithm's Loan Payment Calculator brings these pieces into one inspectable record. It separates the amount before fees from the financed opening balance and follows the balance through each modeled month, so a headline payment can be evaluated together with the cash needed and the cost over time.

The three modes support different stages of planning. Payment mode starts with a loan amount and an exact term. Amount mode starts with a regular monthly budget and finds the largest supported loan that it can repay under the same assumptions. Payoff mode tests an existing fixed payment and reports whether it clears the balance within the simulation horizon. Temporary extra-payment windows and one-time contributions can then be explored without changing the regular commitment or silently assuming that future optional money supports a larger initial loan.

This tool uses a fixed contract interest rate, equal monthly periods, end-of-month payments, and explicit currency rounding. Those choices make the schedule reproducible and useful for comparing scenarios, but individual loan agreements may use daily accrual, unusual first periods, different fee treatment, or specific instructions for principal reductions. Keep the original disclosure available, verify the lender's actual payment and prepayment policy, and update saved calculations when terms change. The downloadable ledger provides a planning trail, while a lender's current payoff quote remains the appropriate source for an exact settlement amount.

Editorial Transparency

Who maintains this page

Ownership and review

Written and maintained by the Toolarithm editorial team. No review date is shown without a maintained editorial record. No independent professional review is claimed.

Methodology

Formulas are checked with worked examples and boundary cases. Timing, compounding, payment, and rounding assumptions remain visible; results are educational estimates, not financial advice.

Read the editorial methodology

Dates and sources

Review dates change only after a substantive method or content check.

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