What's the monthly payment on a 30,000 interest only loan?
Take the annual interest rate, divide by 12, and then multiply by the loan amount.
| 30,000 x Interest Rate (as a decimal) ÷ 12 |
An interest only loan just pays the interest so no principal is paid off. The loan typically has a specified term. When that term ends the loan must be repaid or refinanced.
View a table of monthly payments for a 30,000 interest only loan.
| Rate |
Monthly Payment |
| 0.50% |
$150 |
| 1.00% |
$300 |
| 1.50% |
$450 |
| 2.00% |
$600 |
| 2.50% |
$750 |
| 3.00% |
$900 |
| 3.50% |
$1,050 |
| 4.00% |
$1,200 |
| 4.50% |
$1,350 |
| 5.00% |
$1,500 |
| Rate |
Monthly Payment |
| 5.50% |
$1,650 |
| 6.00% |
$1,800 |
| 6.50% |
$1,950 |
| 7.00% |
$2,100 |
| 7.50% |
$2,250 |
| 8.00% |
$2,400 |
| 8.50% |
$2,550 |
| 9.00% |
$2,700 |
| 9.50% |
$2,850 |
| 10.00% |
$3,000 |
More Loan Amounts
| $31,000 |
| $32,000 |
| $33,000 |
| $34,000 |
| $35,000 |
| $36,000 |
| $37,000 |
| $38,000 |
| $39,000 |
| $40,000 |
| $41,000 |
| $42,000 |
| $43,000 |
| $44,000 |
| $45,000 |
| $46,000 |
| $47,000 |
| $48,000 |
| $49,000 |
| $50,000 |
| $51,000 |
| $52,000 |
| $53,000 |
| $54,000 |
| $55,000 |
| $56,000 |
| $57,000 |
| $58,000 |
| $59,000 |
| $60,000 |