Loan Repayment Calculator
Calculate your fixed monthly loan repayment, payoff date and total interest for a level-payment repayment plan.
Monthly payment
$456.33
Payoff date
3 years
36 months
Total payment
$16,428
Total interest
$1,428
A level-payment repayment plan keeps the payment fixed so you always know what is due each month until the balance reaches zero.
How it works
Monthly repayment = amortising formula on balance at annual rate for the term. Total repaid = repayment × n.
Example: $15,000 at 6% over 3 years → $456/month, $16,419 total.
Loan Repayment Calculator on True Calculator gives you an instant, accurate answer with no sign-up and no app install. Calculate your fixed monthly loan repayment, payoff date and total interest for a level-payment repayment plan. Every result shows the formula and a worked example so you can verify the calculation yourself, and all values are computed in your own browser — your numbers never leave your device.
Popular uses: loan repayment calculator · loan repayment plan · monthly repayment calculator
Last updated: August 2026
How We Calculate
This calculator uses standard mathematical formulas verified by our team. All calculations are performed instantly in your browser using JavaScript — no data is sent to any server. The formulas used are industry-standard and match those used by banks, financial institutions and health organizations.
For financial calculators, we use RBI-approved formulas and regularly updated bank rates. For health calculators, we use WHO-recommended formulas and medical standards. All rates and standards are sourced from official government and regulatory websites.
Frequently Asked Questions
What does a loan repayment calculator do?
It estimates your fixed monthly repayment, total interest and total amount repaid for a loan at a given rate and term, so you can plan your budget before borrowing.
What is the difference between repayment and total cost?
The monthly repayment is each fixed installment; the total cost is all installments combined, including every dollar of interest. The repayment calculator shows both.
How does the term affect my monthly repayment?
A longer term spreads the balance over more months, lowering each repayment but increasing the total interest paid. A shorter term raises repayments but clears the debt faster and cheaper.
Is this loan repayment calculator free to use?
Yes, True Calculator's loan repayment calculator is completely free with no sign-up, no app install and no usage limits.
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