Installment Payment Calculator
Enter the purchase amount and number of months to calculate your monthly payment.
How to use the Installment Payment Calculator
- Enter the Purchase amount and the number of Months you want to spread it over.
- Enter the Fee rate (annual, %), or leave it at 0 for an interest-free plan.
- Press Calculate for the monthly payment and the number of months it runs for.
- An empty or non-numeric box is highlighted with a prompt instead of a result.
The fee is charged on the full purchase amount
The annual rate is scaled by the length of the plan, applied to the whole purchase price, and the result split into equal monthly payments. A six-month plan therefore carries half a year of fee, and nothing is charged on a falling balance.
What the fee rate does to a 12-month plan
Taking the 1,200,000 over 12 months that the page opens with. No currency is assumed anywhere, so type the figures in whatever you happen to be paying with.
| Fee rate | Total paid | Per month |
|---|---|---|
| 0% | 1,200,000 | 100,000 |
| 5% | 1,260,000 | 105,000 |
| 10% | 1,320,000 | 110,000 |
| 15% | 1,380,000 | 115,000 |
| 20% | 1,440,000 | 120,000 |
Frequently asked questions
Can I calculate interest-free plans?
Yes. Enter 0 as the fee rate to see the interest-free monthly amount.
Will this match my card statement?
Card issuers apply fees differently, so treat this as an estimate rather than an exact figure.
Does a longer plan cost more?
In fees yes, per month no. On 1,200,000 at 10 percent, 24 months costs 240,000 in fees against 120,000 over 12 months.
Is this the same maths as a car loan?
No. A loan charges interest on the balance still outstanding, which shrinks monthly. Here the fee sits on the original amount for the whole term.
Can I enter a decimal fee rate?
Yes. The Fee rate box takes decimals, so 12.9 or 4.5 work as well as whole numbers, and so do the amount and the term.