Loan calculator: monthly payment, interest and payment schedule

See a loan’s payment before you sign, what it costs in interest and how the balance goes down each month.

By the Fluvi team · Updated November 7, 2026

Loan calculator

Enter the amount, the rate and the term. The payment schedule is below.

Loan amount

Currency

Interest rate (%)

Term in months

The rate is

Monthly payment

$362.69

Total interest

$2,408.79

Total repaid

$17,408.79

Monthly rate: 0.63% · Effective annual: 7.76%

Payment schedule

Payment	Payment	Interest	Principal	Balance
1	$362.69	$93.75	$268.94	$14,731.06
2	$362.69	$92.07	$270.62	$14,460.44
3	$362.69	$90.38	$272.31	$14,188.13
4	$362.69	$88.68	$274.01	$13,914.12
5	$362.69	$86.96	$275.73	$13,638.39
6	$362.69	$85.24	$277.45	$13,360.94
7	$362.69	$83.51	$279.18	$13,081.76
8	$362.69	$81.76	$280.93	$12,800.83
9	$362.69	$80.01	$282.68	$12,518.15
10	$362.69	$78.24	$284.45	$12,233.70
11	$362.69	$76.46	$286.23	$11,947.47
12	$362.69	$74.67	$288.02	$11,659.45
13	$362.69	$72.87	$289.82	$11,369.63
14	$362.69	$71.06	$291.63	$11,078
15	$362.69	$69.24	$293.45	$10,784.55
16	$362.69	$67.40	$295.29	$10,489.26
17	$362.69	$65.56	$297.13	$10,192.13
18	$362.69	$63.70	$298.99	$9,893.14
19	$362.69	$61.83	$300.86	$9,592.28
20	$362.69	$59.95	$302.74	$9,289.54
21	$362.69	$58.06	$304.63	$8,984.91
22	$362.69	$56.16	$306.53	$8,678.38
23	$362.69	$54.24	$308.45	$8,369.93
24	$362.69	$52.31	$310.38	$8,059.55
25	$362.69	$50.37	$312.32	$7,747.23
26	$362.69	$48.42	$314.27	$7,432.96
27	$362.69	$46.46	$316.23	$7,116.73
28	$362.69	$44.48	$318.21	$6,798.52
29	$362.69	$42.49	$320.20	$6,478.32
30	$362.69	$40.49	$322.20	$6,156.12
31	$362.69	$38.48	$324.21	$5,831.91
32	$362.69	$36.45	$326.24	$5,505.67
33	$362.69	$34.41	$328.28	$5,177.39
34	$362.69	$32.36	$330.33	$4,847.06
35	$362.69	$30.29	$332.40	$4,514.66
36	$362.69	$28.22	$334.47	$4,180.19
37	$362.69	$26.13	$336.56	$3,843.63
38	$362.69	$24.02	$338.67	$3,504.96
39	$362.69	$21.91	$340.78	$3,164.18
40	$362.69	$19.78	$342.91	$2,821.27
41	$362.69	$17.63	$345.06	$2,476.21
42	$362.69	$15.48	$347.21	$2,129
43	$362.69	$13.31	$349.38	$1,779.62
44	$362.69	$11.12	$351.57	$1,428.05
45	$362.69	$8.93	$353.76	$1,074.29
46	$362.69	$6.71	$355.98	$718.31
47	$362.69	$4.49	$358.20	$360.11
48	$362.36	$2.25	$360.11	$0

The last payment may differ slightly due to rounding. Insurance and fees aren’t included.

How the payment is worked out

Turn the rate into a monthly rate (see below, depending on how it’s quoted).
Count the payments: a 4-year loan is 48.
Apply the formula, or type the numbers into the calculator.

Item	Value
Amount	$15,000
APR	7.5%
Monthly rate	0.63%
Term	48 months
Monthly payment	$362.69
Total repaid	$17,408.79
Interest	$2,408.79

APR, effective and monthly rates aren’t the same

Lenders quote rates in three ways, and mixing them up changes the payment a lot:

APR (nominal annual): divide by 12. A 7.5% APR is 0.63% a month, which compounds to 7.76% a year.
Effective annual (APY, AER): already includes interest on interest. The monthly equivalent is (1 + rate)^1/12 − 1.
Monthly: used as is. Careful: 2% a month sounds small, but it’s 26.82% a year.

In the calculator you choose how your rate was quoted and it converts it.

How the debt goes down: the amortization schedule

With a fixed payment, early payments are mostly interest and later ones mostly principal. In the example, of the first payment $93.75 is interest and only $268.94 pays down the loan; the last one is almost all principal ($360.11). That’s why extra payments do the most good early on.

Longer term: lower payment, more interest

Term	Payment	Total interest
12 months	$1,301.37	$616.35
24 months	$675	$1,199.85
36 months	$466.60	$1,797.32
48 months	$362.69	$2,408.79
60 months	$300.57	$3,034.16

Stretching the term eases the month but makes the loan noticeably more expensive. Pick the shortest term whose payment fits comfortably.

Before you borrow

Make sure the payment fits: a prudent rule is to keep all your debt payments under 30% of your income. Build your monthly budget with the payment in it.
Compare the APR including fees, not just the payment.
Ask about overpayments: if you can make them without a penalty, you save interest.
Avoid payday-style loans: their effective annual rate is usually enormous.

Never miss a payment

Add your loan payment as a bill in Fluvi: it reminds you before it’s due, you log the payment in one tap and you see how much goes to debt each month next to your other expenses.

It’s free with up to 3 bills; unlimited with Premium.

Start free Get it on Google Play

Bills in the Fluvi app with their due dates and reminders

Frequently asked questions

Does the payment include insurance and fees?

No. The calculator gives the principal-and-interest payment. Lenders may add insurance, origination or account fees. Ask for the full payment in writing and compare it with this one.

If I overpay, should I shorten the term or lower the payment?

Shortening the term saves more interest, because you stop paying whole months. Lowering the payment eases your monthly budget. If the payment already fits comfortably, shorten the term.

Which rate should I use to compare loans?

The APR with all fees included (in the EU and UK it’s the APRC or representative APR). Two loans with the same headline rate can cost different amounts.

Why is the last payment slightly different?

Because of rounding: the payment is rounded up to the cent and the last one is adjusted so the balance lands exactly on zero.

This guide is educational content, not personalized financial advice. The numbers are examples; adjust them to your situation. More details in the Terms and conditions (in Spanish).