Installment Payment Calculator

Plan installment payments with fees and schedules easily. Compare terms, frequencies, and balloon options quickly. Download results, visualize totals, and decide confidently every time.

Enter Loan Details

Total amount before down payment.
Reduces the financed balance.
Annual percentage rate.
Converted to total payments based on frequency.
Changes the number of installments per year.
Used to estimate effective periodic rate.
First payment date baseline.
Can be financed or paid upfront.
Common for installment billing programs.
Optional add-on or protection plan.
Set to 0 if you pay on time.
Remaining payoff due at the end.
Applied to principal after grace period.

Rate and Timing Options

Step-up increases APR after a set number of payments.
Used only for step-up.
Example: 12 means after the 12th payment.
During grace, payments cover interest only.
Some lenders round payments.
Pays interest only, principal due at end.

Example Data Table

Scenario Principal APR Term Frequency Estimated Payment
Personal loan $10,000 12% 24 months Monthly $470–$490
Auto loan $25,000 7% 60 months Monthly $490–$510
Balloon plan $15,000 10% 36 months Monthly $320–$360
Ranges reflect fees, rounding, and payment frequency choices.

Formula Used

This calculator converts APR to an effective periodic rate based on compounding and payment frequency, then computes the regular installment payment using amortization math. Fees, extra payments, and balloon payoffs are added for a total cost estimate.

EffectiveAnnual = (1 + APR / m)^m − 1
PeriodicRate r = (1 + EffectiveAnnual)^(1/p) − 1
Payment = PV × r / (1 − (1 + r)^−n)
TotalPaid ≈ Σ(Payment + Fees + Extra) + Balloon + UpfrontFee

m = compounds per year, p = payments per year, n = number of payments.

How to Use

  1. Enter principal, down payment, APR, and term.
  2. Select payment frequency and compounding method.
  3. Add fees, insurance, late-fee estimates, and balloon if applicable.
  4. Set extra payments or grace period to test payoff strategies.
  5. Click Calculate to view totals, chart, and schedule.
Download CSV or PDF to share assumptions and results.

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Important Note: All the Calculators listed in this site are for educational purpose only and we do not guarentee the accuracy of results. Please do consult with other sources as well.