Installment Loan Calculator: the Monthly Payment by APR
One payment number, one total: any amount, any APR, any term from 3 to 24 months.
Above the payday ceiling, credit is priced in APR and repaid in fixed monthly payments, and this calculator prices that structure. Enter the amount, the APR and the term in months. The payment comes from the standard amortization formula; the total of payments and the total interest show the cost end to end.
The defaults hold a worked example: $1,300 at 130% APR over six months is a $305.82 payment, $1,834.89 total, $534.89 of it interest. Drop the APR to 36% and the payment falls near $240 with about $1,440 total. Same principal, same term; the APR is the entire difference, which is why shopping by monthly payment alone is a mistake.
Two honest limits: the tool assumes a fixed rate with no origination fee, and it prices what you enter rather than what a contract might bundle. Treat the results as the baseline, then read the lender’s disclosure line by line.
The installment hub and the $1,200-$1,400 guide explain how to compare offers by APR.
Want a real offer next to these numbers? The request form returns decisions in minutes. Before signing anything, run the paycheck slack check and confirm the payment clears with room to spare.
Frequently asked questions
How is the monthly payment computed?
What APR should I expect?
Does paying early save money?
Why does the term change the total so much?
Reviewed by Ray Drummond, Reviewer, credit counseling background. Every fee, cap, and formula on this page was checked against the published state rules.
Last reviewed: 2026-10-06