Klar
العربيةEN

Loan monthly payment calculator

Calculate the monthly payment, total interest and total cost of any fixed-rate or zero-interest loan, with a clear annual repayment table.

Required fields are marked with an asterisk (*).

The total amount you plan to borrow, before any down payment.
The annual interest rate on the loan; enter 0 for a zero-interest loan.
How long you will take to repay the loan, in the chosen unit.
Term unit
Choose whether the term is measured in months or years.
The amount you pay upfront, deducted from the loan amount (optional).
Loan fees and charges you want included in the total cost (optional).
The currency used to display the results.

Before borrowing, it helps to know how much you will pay each month and what the loan really costs. Enter the loan amount, interest rate, term and fees to get an estimated monthly payment, total cost, and an annual repayment table showing how each year splits between principal, interest and remaining balance.

Formula

The monthly payment uses the standard fixed-rate annuity formula: payment = outstanding balance × monthly rate × (1 + monthly rate)^months ÷ ((1 + monthly rate)^months − 1).

When is this useful?

Use this calculator when comparing loan offers, or before borrowing to buy a car, a home or fund an education, so you can estimate the monthly payment and total cost before signing any agreement.

Worked example

Example using the calculator’s values: a 100,000 Jordanian dinar loan at 5% per year for 10 years.
A 10,000 dinar down payment and 500 dinar in fees.
The monthly payment is about 955 dinars, with total interest of about 24,560 dinars.
The effective total cost is about 125,060 dinars.

Assumptions

  • The interest rate is fixed for the whole loan term.
  • Payments are made monthly and on time, with no extra or missed payments.
  • The down payment and fees are added to the effective total cost.
  • Insurance, late fees or early-repayment charges are not included unless entered as fees.
  • Results are estimates and do not account for exchange-rate changes or local regulations.

Common mistakes

  • Confusing the monthly and annual interest rate: enter the annual rate as it is, without dividing it.
  • Forgetting the down payment when working out the actual amount borrowed.
  • Ignoring fees and charges when comparing the total cost of different offers.
  • Assuming the payment stays fixed even if the interest rate on a variable-rate loan changes.
  • Looking only at total interest instead of the full effective cost.

Frequently asked questions

Does the result show interest only, or the full cost?

The results show the monthly payment, total paid and total interest, plus the effective total cost that includes the down payment and fees.

What if the loan has a variable interest rate?

This calculator assumes a fixed rate. If your rate is variable, use an estimated rate and be aware that payments may change over time.

Can I use it for a zero-interest loan?

Yes. Enter 0 for the interest rate and the payment is calculated by dividing the outstanding balance equally across the months.

How is the effective total cost calculated?

It is the sum of all monthly payments over the term plus the down payment and fees.

Methodology and review

The calculator uses the standard fixed-rate annuity formula with monthly accounting and a year-by-year balance schedule. Results are approximate and for general planning. Rules and fees vary by country and lender, so always check the contract terms and official bodies before deciding.

Results are estimates for informational purposes only and do not constitute financial advice or a lending offer.

Back to home