Loan Calculator
Enter the loan amount, annual interest rate and term to see your estimated monthly payment, total payment and total interest.
Your files are processed locally in your browser. They are not uploaded to our servers.
How to use
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the loan term in years, and read the results below.
What is this tool?
Loan Calculator uses the standard amortization formula to work out a fixed monthly payment for a loan, based on the principal, annual interest rate and term. It also shows the total amount you'll pay over the life of the loan and the total interest. Everything is calculated live in your browser.
Common uses
- Estimating monthly payments before applying for a loan
- Comparing offers with different interest rates or terms
- Working out the total interest cost of a mortgage or car loan
- Budgeting for a future loan payment
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FAQ
Does this calculator include fees or insurance?
No, it calculates a standard principal-and-interest payment only — extra fees, taxes or insurance aren't included.
What if the interest rate is 0%?
The calculator simply divides the loan amount evenly across the term with no interest added.
Is this the same as what a bank will offer me?
This gives a close estimate using the standard amortization formula, but actual offers can vary by lender and fees.