How to use the loan payment and payoff calculator

What it does: See the monthly payment, total interest and payoff date on a term loan, plus what paying extra each month saves you.

When to use it: Use it before you apply for or accept a loan or line of credit, so you know the real cost and monthly payment.

Start with the example numbers to see how it works.
Replace them with your own figures from your bank statements, invoices, or bookkeeping. Estimates are fine.
Read the plain-language result at the top, then change one number at a time to see what moves it most.

The calculator is free, needs no account, and doesn't store what you type.

Loan payment and payoff calculator