Free Loan Payment Calculator
Work out your monthly loan repayment from the amount borrowed, interest rate and term. Free to use.
Free loan payment calculator
Enter the loan amount, annual interest rate and term in years to get an estimated monthly repayment. The result is for a standard amortising loan (equal monthly payments). Your actual payment may differ if your lender uses a different method or fees.
Frequently Asked Questions
What is a free loan payment calculator?
A tool that works out your monthly loan repayment from the amount borrowed, annual interest rate and loan term in years. It uses the standard amortising formula.
How is the monthly payment calculated?
Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of payments (years × 12).
Is it free to use?
Yes. Free to use with no sign-up. For illustration only; your lender will give the actual repayment.
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<p>Calculator: <a href="https://onlinecalculator.co.uk/finance/free-loan-payment-calculator" target="_blank">Free Loan Payment Calculator</a> - OnlineCalculator.co.uk</p>APA Style Citation:
OnlineCalculator.co.uk. (2025). Free Loan Payment Calculator. Retrieved from https://onlinecalculator.co.uk/finance/free-loan-payment-calculatorNote: This calculator is free to use and reference. No permission required for educational or commercial citation.