So you can think of a loan as an annuity you pay to a lending institution. When you take out a loan, you must pay back the loan plus interest by making regular payments to the bank. For additional compounding options use our Compounding This calculator assumes interest compounding occurs monthly as with payments. Monthly Payment The amount to be paid toward the loan at each monthly payment due date. Number of Months The number of payments required to repay the loan. Interest Rate The annual nominal interest rate, or stated rate of the loan. Loan must be open for at least 60 days with first scheduled payment made to be eligible for the 200, which will be credited to the primary applicant’s savings account between 61 and 65 days. Auto refinance loan must be at least 5,000. Existing Navy Federal loans are not eligible for this offer. Loan Amount The original principal on a new loan or principal remaining on an existing loan. Credit and collateral subject to approval. You can also create and print a loan amortization schedule to see how your monthly payment will pay-off the loan principal plus interest over the course of the loan. Find your ideal payment by changing loan amount, interest rate and term and seeing the effect on payment amount. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.Use this loan calculator to determine your monthly payment, interest rate, number of months or principal amount on a loan. You may also visit the individual sites for additional information on their data and privacy practices and opt-out options. To learn more about ad choices, or to opt out of interest-based advertising with non-affiliated third-party sites, visit YourAdChoices popup powered by the DAA or through the Network Advertising Initiative's Opt-Out Tool popup. Ads served on our behalf by these companies do not contain unencrypted personal information and we limit the use of personal information by companies that serve our ads. Relationship-based ads and online behavioral advertising help us do that.īank of America participates in the Digital Advertising Alliance ("DAA") self-regulatory Principles for Online Behavioral Advertising and uses the Advertising Options Icon on our behavioral ads on non-affiliated third-party sites (excluding ads appearing on platforms that do not accept the icon). We strive to provide you with information about products and services you might find interesting and useful. If you're not currently enrolled in Online Banking, visit a financial center or click to schedule an appointment to apply for your loan. Online Banking customers may apply online for an auto loan to purchase a vehicle from a private party (an individual seller). The final APR may differ from the APR in the above results due to additional fees that may be applicable. Please consult with qualified professionals to discuss your situation. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Bank of America, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. Bank of America and its affiliates are not tax or legal advisers. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed. You should enter figures that are appropriate to your individual situation. The figures entered on the input page of this calculator are for hypothetical purposes only.
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