Loan Calculator
Calculate your estimated monthly loan payment, total interest, total repayment and amortization details in seconds. Enter your loan information and get a clear breakdown of your borrowing costs.
Loan Calculator
Enter your loan details
Loan Information
Enter the amount, interest rate and repayment period.
Quick Examples
Try a presetLoan Calculation Result
Your estimated payment and loan cost breakdown.
Estimated Monthly Payment
Loan Cost
Payment + Interest
Loan Amount
$0.00
Total Interest
$0.00
Total Payment
$0.00
Loan Summary
Interest Rate
0%
Loan Term
-
Payments
0
Interest / Principal
0%
Amortization Schedule
Review the first 12 payments and the final payment.
| Payment | Payment Amount | Principal | Interest | Balance |
|---|
Calculation Details
Loan Payment Formula
M = Monthly payment
P = Loan principal
r = Monthly interest rate
n = Number of monthly payments
What Is a Loan Calculator?
A loan calculator helps estimate the payment and overall cost of an amortizing loan. By entering the principal amount, annual interest rate and repayment period, you can see an estimated monthly payment, total interest and total amount paid over the selected term.
Use different loan amounts, rates and terms to compare hypothetical repayment scenarios before making financial decisions.
Calculate Your Loan in Three Steps
Enter Loan Details
Enter the loan amount, annual interest rate and repayment term.
Calculate Payment
The calculator uses the entered values to estimate the periodic payment and loan cost.
Review Results
Review the monthly payment, total interest and amortization details.
Loan Calculator Features
Get a useful overview of your hypothetical loan repayment without complicated calculations.
Monthly Payment
Estimate the periodic payment required for the selected loan.
Total Interest
See the estimated interest paid across the repayment period.
Total Payment
Understand the estimated total amount paid over the loan term.
Amortization Schedule
Review how payments can be divided between principal and interest.
Quick Examples
Start with predefined examples and change the values as needed.
Free Online Tool
Calculate loan scenarios online without registration.
What the Numbers Mean
Monthly Payment
The estimated amount due during each monthly payment period for the selected loan assumptions.
Total Interest
The estimated amount paid in interest over the full repayment schedule.
Total Payment
The estimated principal plus interest paid over the complete repayment period.
Before Using the Results
Calculator results are estimates based on the values you enter and the mathematical assumptions used by the tool.
Actual loan costs may differ because lenders can apply different rates, fees, payment schedules, taxes, insurance or other charges.
This calculator is for informational and planning purposes and is not financial advice or a loan offer.
Frequently Asked Questions
Common questions about loan payments, interest and amortization.
How is the monthly loan payment calculated?
For a standard amortizing loan, the payment is calculated using the principal, periodic interest rate and total number of payments. The formula shown above is the standard fixed-payment formula.
What happens if the interest rate is 0%?
When there is no interest, the principal is divided across the scheduled number of payments, subject to the calculator's payment assumptions.
What is an amortization schedule?
An amortization schedule shows how individual payments are allocated between principal and interest and how the remaining loan balance changes over time.
Can I calculate loans with different terms?
Yes. Enter the repayment period and select either years or months to calculate different hypothetical loan scenarios.
Does the calculator include lender fees?
The basic calculation focuses on principal and interest. Additional lender fees, taxes, insurance or other charges may not be included unless specifically represented by the calculator inputs.
Plan Your Loan With Confidence
Adjust the loan amount, interest rate and term to explore different repayment scenarios before comparing your options.
Calculate Your Loan