Amount and net proceeds
Principal and every deduction
Does the delivered amount cover the expense?
Installment Loans: Estimate Each Payment and the Total Cost
Amounts up to $35,000 · Subject to eligibility and availability
Check every installment—not just the first payment
An installment loan divides repayment into scheduled payments. The decision is whether those payments fit for the whole term, how much cash you receive and what you pay in total—not whether the first payment looks small.
Bottom Dollar Payday is a product of FSST Financial Services, LLC, not a lender. An independent provider processes the application; terms and availability depend on the provider.
- Choose your amount
Start with your cash need and repayment.
- Complete the application
Continue to the provider’s online form.
- Review any offer
Check the cost and dates before accepting.
Rate and APR
Both disclosed figures where shown
Which charges are included in the APR?
Payment pattern
Frequency, amount, first date and last date
Are all payments equal or is there a different final payment?
Start with your situation
What do you need the schedule to do?
Choose the constraint that matters most. The calculation below is an estimate using your inputs, not a quote or a lender decision.
Keep each payment within my budget
Use the payment you can afford after essentials and existing debts, then test the full term. A longer duration may reduce a payment while raising total interest at the same positive rate.
Pay the balance off earlier
Ask for the actual early-payoff method, any applicable charge and how an extra payment is applied. Do not assume that paying the next scheduled installment in advance is the same as reducing principal immediately.
Compare two written offers
Use net proceeds, the full schedule and all fees. Compare the same amount received. If one offer lasts longer, keep the extra months visible instead of comparing only monthly payments.
Read the agreement as a schedule of obligations
| Contract item | What to record | Question to resolve |
|---|---|---|
| Amount and net proceeds | Principal and every deduction | Does the delivered amount cover the expense? |
| Rate and APR | Both disclosed figures where shown | Which charges are included in the APR? |
| Payment pattern | Frequency, amount, first date and last date | Are all payments equal or is there a different final payment? |
| Total repayment | Sum of scheduled payments plus separate costs | Am I counting a fee twice? |
| Early or late payment | Contractual calculation and charges | Who provides an accurate payoff or revised schedule? |
On a narrow screen, scroll inside the table to see every column.
The CFPB identifies origination, documentation and other possible fees on personal installment loans. A lender’s disclosure, not this checklist, establishes which fees apply. [S03]
A longer term changes more than the payment
Illustration only: a $1,200 principal, 12% annual interest rate, equal monthly periods and no fees gives a payment of about $106.62 for 12 months. The same assumptions over 24 months produce about $56.49. Total unrounded scheduled repayment is about $1,279.42 versus $1,355.72.
| Same principal and rate | 12 months | 24 months |
|---|---|---|
| Approximate monthly payment | $106.62 | $56.49 |
| Approximate total repayment | $1,279.42 | $1,355.72 |
| Approximate interest | $79.42 | $155.72 |
On a narrow screen, scroll inside the table to see every column.
The second option lowers the payment but adds approximately $76.30 in interest and an extra year of obligation. Real contracts can use different accrual, dates, fees and final-payment adjustments.
Use the worksheet
Estimate a regular monthly schedule
Use the principal, annual nominal interest rate, monthly term and withheld fee from the same offer. This estimate is not a legal APR calculation.
Use numbers without $ signs or thousands separators; use a dot for decimals. The calculation stays in this page and does not retrieve bank or credit data.
Method, assumptions and limits
For equal monthly periods: r = annual nominal rate / 1200; payment = principal × r / [1 − (1 + r)^(−months)]. At a zero rate, payment = principal / months. Total payments use the unrounded payment × months. Net proceeds = principal − withheld fee. Cost relative to net proceeds = total payments − net proceeds. The withheld fee does not change this example’s contractual principal. Not a legal APR calculation. Excludes irregular dates, daily accrual, variable rates, additional fees, prepayment and penalties. Actual final-payment rounding can differ.
Input limits: money $0–$35,000 (two decimal places); principal must be positive; fee must be below principal. Monthly term: 1–600 whole months. Annual nominal rate: 0–1,000%, up to four decimals. App uses: 0–1,000 whole uses. These are calculator limits, not available loan terms.
Know what the calculator does and does not calculate
The worksheet uses a fixed annual interest rate divided by 12, equal monthly periods and an amortizing balance. It does not calculate a legally disclosed APR, daily accrual, irregular first periods, optional products or a lender’s approval limit. At a zero rate, the payment is principal divided by months.
A fee entered as withheld reduces the cash received but is not added again to the loan principal. Its effect appears in net proceeds and the difference between total repayment and proceeds. Use a provider’s actual schedule when its fee treatment or payment pattern differs.
Test the weakest payment month
Do not use only your best month’s income. Check a month with seasonal expenses, a smaller paycheck or overlapping bills. For a $106.62 example payment, $140 spare cash leaves about $33.38; $90 spare cash creates a shortage of about $16.62. A positive average can hide individual months that fail.
When a future payment looks unmanageable, discuss a smaller principal, a different schedule or an alternative before accepting. Do not treat a new loan as a permanent fix for an ongoing income deficit.
Confirm the lender and the handoff
Before a formal request, confirm the actual creditor, state availability, credit-check stage, accepted income evidence and receiving-account requirements. Ask when funds would be sent after final approval, not simply how quickly an online form can be submitted.
Next action: obtain the complete payment schedule and compare it with the worksheet. If your goal is selecting between different personal-loan offers, use the personal-loans page; if you need a smaller amount, start with the small-dollar calculation. There is no loan application or approval promise inside this tool.
Questions before your next step
Is the interest-rate input the APR?
No. This estimate uses an annual interest rate excluding fees. The lender’s disclosed APR is a separate cost measure; do not interchange them in the calculator.
Does a fixed payment mean there are no extra charges?
No. Check the agreement for charges such as late fees and any separately paid costs, as well as whether the final payment differs.
Can a lower payment cost more overall?
Yes. Under otherwise identical positive-rate assumptions, extending repayment can reduce the installment while increasing total interest.
Ready for your next step?
Continue to the online application. Review the terms of any offer before you accept.
Sources and scope
Official sources support the general explanations, not a Bottom Dollar offer or endorsement. Hypothetical figures are labelled as examples. Source content reviewed for this edition: 22 September 2026.
