Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

Installment loan monthly payment calculator

Find out if you can afford to take out that short-term loan.

When your credit prevents you from qualifying for a traditional personal loan, an installment loan might be your only option when you need money fast. But with APRs in the triple digits, it can mean paying back double or even triple what you borrowed.
Before taking out an installment loan, use our calculator to ensure you can afford the monthly repayments. If not, you might want to continue comparing lenders to find one that better fits your budget.

Installment loan repayment calculator

See how much you'll pay
Your loan
Loan amount
$
Loan terms (in years)
Interest rate
%

Fill out the form and click on “Calculate” to see your estimated monthly payment.

or

Compare installment loans
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

How to use this installment loan calculator

  1. Type in how much you want to borrow under Loan amount.
  2. Enter your loan term in years (not months) under the Loan terms field.
  3. Enter the loan’s interest rate if it doesn’t come with any fees under Interest rate. If your loan does come with fees, enter the annual percentage rate (APR), which includes interest and fees combined.
  4. Click Calculate.
  5. Review your results.

Not only will our calculator show you how much you’ll pay each month, but also how much you’ll pay in interest over your entire loan term.

Bottom line

When you’re in a tight spot and need money fast, knowing how much you’ll pay both monthly and overall is crucial when picking an installment loan you can afford. You can learn more about how to compare lenders with our guide to installment loans.
Or check our best picks for installment loans if you’re ready to compare your best options.

Frequently asked questions

More guides on Finder

  • Loans Like CreditNinja

    Compare other lenders and cash advance apps as alternatives to loans like CreditNinja.

  • Time really is money with PTO cash advances

    A PTO cash advance allows certain workers to cash in on their unused paid time off.

  • Get a $600 loan

    How to get a $600 loan, including eligibility requirements and where to find them.

  • Lenders that offer $300 loans

    Compare eight lenders that offer loans under $300.

  • Get a $200 loan

    Find out where to apply for a short-term loan if you have bad credit — and learn what red flags to stay away from.

  • 9 loans like Cash Central

    Cash Central provides fast payday loans and makes it easier for returning customers. Learn about similar providers in your state.

  • Sites like ACE Cash Express

    Ace Cash Express provides quickly approved loans at more than 850 locations. Find similar services in your state.

  • 9 companies like Check Into Cash

    Check Into Cash gets you money fast with a low minimum. Read about other similar services.

  • Get a $500 loan

    Here’s how to get a small $500 loan for cash until payday.

  • Get a $100 loan

    Borrowing a $100 can be a quick and painless process. This article covers exactly what you need to know when you need a little cash between paydays.

Ask a Question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site