Loan Calculator
This is a simplified estimate for fixed-rate, equal-payment loans. It excludes fees and insurance and is not financial advice.
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Work out the monthly payment on a loan, plus the total you will repay and how much of that is interest. Enter the amount, interest rate and term, and see a chart of the shrinking balance. It is great for mortgages, car loans and personal loans. This is an estimate, not financial advice, and runs in your browser.
How to use
- Enter the loan amount you want to borrow.
- Enter the annual interest rate and the term in years.
- Read the monthly payment, total repaid and total interest.
How it works
The calculator assumes a fixed-rate loan with equal monthly payments (amortization). Each payment covers the interest on the remaining balance plus a bit of principal, so early payments are mostly interest and later ones mostly principal. The standard formula uses the monthly rate and the number of months to find a constant payment that clears the loan exactly at the end of the term.
Features
Monthly payment
See the fixed amount you would pay each month.
Total cost & interest
See the total repaid and how much of it is interest.
Balance chart
A simple chart shows the remaining balance falling each year.
Instant results
Everything updates as you change the inputs.
When to use it
Mortgages
Estimate monthly repayments on a home loan over different terms.
Car loans
Check what a vehicle loan would cost each month and overall.
Compare options
Try different rates and terms to compare total interest.
Budgeting
See whether a loan's monthly payment fits your budget.
Notes
- Assumes a fixed rate and equal monthly payments.
- Fees, insurance and variable rates are not included.
- Real loan offers may differ; treat this as a guide.
- Everything runs on your device; nothing is uploaded.
Not financial advice
This calculator is for general information only and provides a simplified estimate. It is not financial advice. Confirm exact figures with your lender before making decisions.
FAQ
- How is the monthly payment calculated?
- It uses the standard amortization formula based on the loan amount, the monthly interest rate and the number of months, giving a constant payment that pays off the loan over the term.
- What is total interest?
- It is the total repaid minus the amount borrowed — the cost of the loan over its life.
- Does it handle variable rates?
- No. It assumes a fixed rate. For a variable-rate loan, the payment can change over time.
- What about extra or early payments?
- This estimate does not model overpayments. Paying extra would reduce the balance and total interest faster than shown.
- Is my data sent to a server?
- No. The calculation happens entirely in your browser.