NMBA - Payment Calculator

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National Marine Bankers Association (NMBA)

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This calculator can be used to determine a monthly payment based on a desired loan amount, or a loan amount based on a desired monthly payment.

To calculate a monthly payment:
1. Enter the desired loan amount
2. Enter an interest rate as an annual percentage (ex: 10, 9.5) without the % sign
3. Enter the term in years (refer to chart)
4. Click the Payment button

To calculate the loan amount:
1. Enter the desired monthly payment
2. Enter the desired term in years (refer to chart)
3. Enter an interest rate as an annual percentage (ex: 10, 9.5) without the % sign
4. Click the Loan Amount button

Loan Amount
Interest Rate		%
Term in Years
Monthly Payment

Many NMBA lenders use the following guidelines when setting loan terms:

Loan Amount	Term in Years
$5,000 - $9,999	7
$10,000 - $14,999	10
$15,000 - $24,999	12
$25,000 - $74,999	15
$75,000+	20

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