Short term
Lowest total interestFastest payoffAdjust APR and term to compare how this repayment plan changes your monthly cost and long-term interest.
Monthly payment
$801.02
Total interest
$1,224.45
Loan term
2 years
Free tool
Free Loan Repayment Calculator
A loan repayment calculator estimates your monthly payment, total interest, and total payoff cost for a fixed-rate loan. This FriendlyLoans version also lets you compare multiple loan terms and APRs side by side so you can find the repayment plan that fits your budget.
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Calculator inputs
Compare repayment plans
Start with one loan amount, then edit the APR and term for each scenario to compare different repayment options.
Example values are loaded so the calculator is immediately useful on first visit.
Balanced
Adjust APR and term to compare how this repayment plan changes your monthly cost and long-term interest.
Monthly payment
$556.61
Total interest
$2,038.00
Loan term
3 years
Lower payment
Lowest monthly paymentAdjust APR and term to compare how this repayment plan changes your monthly cost and long-term interest.
Monthly payment
$441.12
Total interest
$3,174.04
Loan term
4 years
Amortization view
Short term schedule
Principal
Interest
Payment summary
Monthly payment
$801.02
Total interest
$1,224.45
Total paid
$19,224.45
Payoff time
2 years
6.4% of the total amount paid goes toward interest for this scenario.
Showing 12 of 24 payments for Short term.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $801.02 | $705.02 | $96.00 | $17,294.98 |
| 2 | $801.02 | $708.78 | $92.24 | $16,586.20 |
| 3 | $801.02 | $712.56 | $88.46 | $15,873.64 |
| 4 | $801.02 | $716.36 | $84.66 | $15,157.28 |
| 5 | $801.02 | $720.18 | $80.84 | $14,437.10 |
| 6 | $801.02 | $724.02 | $77.00 | $13,713.08 |
| 7 | $801.02 | $727.88 | $73.14 | $12,985.20 |
| 8 | $801.02 | $731.77 | $69.25 | $12,253.43 |
| 9 | $801.02 | $735.67 | $65.35 | $11,517.76 |
| 10 | $801.02 | $739.59 | $61.43 | $10,778.17 |
| 11 | $801.02 | $743.54 | $57.48 | $10,034.63 |
| 12 | $801.02 | $747.50 | $53.52 | $9,287.13 |
How to use it
Compare loan repayment options in three steps
1
Enter the loan amount you want to test
Use one shared loan amount across all plans so you can compare repayment options on equal footing.
2
Adjust APR and repayment term for each option
Model lender quotes or different payoff goals by changing the rate, term length, and time unit for each scenario.
3
Review the payment breakdown and amortization schedule
See monthly payment, total interest, payoff speed, and the full month-by-month principal-versus-interest split before you choose a plan.
FAQ
Common loan repayment calculator questions
What is a loan repayment calculator?
A loan repayment calculator estimates your monthly payment, total interest cost, and full repayment amount for a fixed-rate loan. It also shows an amortization schedule so you can see how each payment is split between principal and interest.
How do shorter and longer loan terms change the cost?
Shorter loan terms usually increase the monthly payment but reduce total interest because the balance is repaid faster. Longer terms can make the payment easier to manage each month, but they typically increase total borrowing cost.
How does APR affect a personal loan payment?
A higher APR increases the interest charged on the remaining balance each month, which raises both your monthly payment and the total interest you pay over the life of the loan. Comparing APR scenarios side by side helps you see that tradeoff quickly.
Can I use this as a loan amortization calculator?
Yes. This tool works as a loan amortization calculator for any fixed-rate loan with equal monthly payments, including many personal loans, auto loans, and private family loans.
Does this debt repayment calculator include fees or changing rates?
No. The calculator assumes a fixed APR and no origination fees, late fees, or variable-rate changes. If your lender adds fees or adjusts the interest rate, your real repayment cost may be different.
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Map out debt-free timelines and compare payoff strategies across multiple balances.
When you move from planning to an actual friends-and-family loan, FriendlyLoans helps you document terms, track payments, and send reminders without awkward back-and-forth.
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