Payment Calculator
Enter a positive loan amount and a valid rate/term or payment.
That payment doesn't even cover the monthly interest — the loan would never be paid off. Try a higher payment.
Free payment calculator that solves the problem this site's other loan calculators don't: 'I can afford $X a month — how long until it's paid off?' Switch between the usual fixed-term mode and a fixed-payment mode that solves for time instead.
How it works
- Choose 'Fixed term' to find your monthly payment, or 'Fixed payment' to find how long payoff takes
- Enter the loan amount and rate, plus term or payment depending on the mode
- See the result instantly, with total interest either way
Frequently asked questions
How is this different from OllTools' Loan Calculator?
Loan Calculator only answers 'given this term, what's my payment?' This tool adds the reverse question: 'given this payment amount, how long until it's paid off?' — useful when you know what you can afford monthly but not how long it'll take.
What happens if my payment doesn't cover the interest?
The tool tells you directly — if your monthly payment is at or below the interest charged each month, the loan balance would never actually decrease, so it shows a clear warning instead of a nonsensical result.
Related tools
From the blog
Update history
- 2026-09-01 Added: a cover image (two opposite arrows along a timeline of coin stacks — one toward a fixed end point, one looping back to ask how long) — used as the card thumbnail, social share image, and blog title image.
- 2026-09-01 Launched: payment calculator (no button) — fixed-term mode (find payment) and fixed-payment mode (find payoff time), with a clear warning when a payment doesn't cover interest. Entirely client-side.