Loan Calculator
Calculate monthly payment, total cost and interest for a loan.
Loan parameters
Enter years, optionally add extra months
Results
Monthly payment
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Total payment
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Total interest
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About this tool
Processing happens directly in your browser. No files are uploaded to the server.
The Loan Calculator uses the standard amortization formula to show your monthly payment, total repayment and total interest for any loan amount, interest rate and term. It works for personal loans, car loans and mortgages.
How to use
- 1 Enter the loan amount, annual interest rate and loan term in years.
- 2 Results update automatically — monthly payment, total payment and total interest.
- 3 Adjust any value to instantly compare scenarios.
- 4 Use the result to decide on a loan term or affordable amount.
Frequently asked questions
What formula is used?
The standard annuity formula: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where r is the monthly rate and n is the number of payments.
Does it include fees?
No. It calculates principal and interest only. Add any fees separately.
Can I calculate a mortgage?
Yes. Enter the property loan amount, rate and term just like any other loan.
Is it accurate?
It gives a very close estimate. Your actual bank may use slightly different rounding.