FreeByte

Bank loan payment calculator

Payment on any fixed-rate bank loan.

Built and reviewed by Dovanic, Founder and editor, FreeByteLast reviewed: 2026-08-18
$
8.5%

Monthly payment

$512.91

Total interest

$5,775

With these inputs, monthly payment comes to $512.91 over 5 years. Total interest works out to $5,775. The result assumes interest rate stays at 8.5%.

Total repaid
$30,775
Interest share
18.8%

Over time · by term (years)

What moves the number · Monthly payment

Input−10%Now+10%
Loan amount$461.62$512.91$564.2
Interest rate$502.73$512.91$523.22
Term (years)$558.75$512.91$475.52

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Save this set of inputs, change something, then save again to compare the outcomes side by side.

Payment on any fixed-rate bank loan.

A worked example

Starting figures

Loan amount
$25,000
Interest rate
8.5%
Term (years)
5

What it returns

Monthly payment
$512.91
Total interest
$5,775
Total repaid
$30,775
Interest share
18.8%

How to read the results

With the defaults above, monthly payment works out at $512.91.

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