What is this calculator?
Estimate fixed monthly payments, total interest and repayment cost.
What can you use it for?
Use this tool to compare a financial scenario using the assumptions you control. Estimate fixed monthly payments, total interest and repayment cost.
How to use it
- Enter loan amount.
- Enter annual interest rate (%).
- Enter loan term (years).
- Enter currency.
- Select Calculate (or Generate for random tools).
- Read the answer and any additional results below the form. Check the units and the limits of the method.
Formula and method
P is the loan principal. r is the monthly rate: annual percent ÷ 1,200. n is years × 12. At zero interest, the payment is P ÷ n.
Worked example
Loan amount: 1000000, Annual interest rate (%): 12, Loan term (years): 5, Currency: PKR. The result is PKR 22,244.4476849 (monthly payment).
Assumptions and limits
Fixed-rate principal and interest only. Country-specific tax, fees and eligibility are not modelled.
Frequently asked questions
What inputs does the Payment Calculator need?
Use loan amount, annual interest rate (%), loan term (years), currency. Read the answer and any additional results below the form. Check the units and the limits of the method.
What assumptions apply to the Payment Calculator?
Fixed-rate principal and interest only. Country-specific tax, fees and eligibility are not modelled.