Loan Calculator
Calculate monthly payments and total interest
About the Loan Calculator
The Loan Calculator estimates the fixed monthly payment, total repayment and total interest for a personal, car or student loan with a fixed interest rate.
How it works
It uses the standard amortization formula: M = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the annual rate divided by 12, and n is the number of monthly payments. For example, $10,000 at 6% over 5 years costs about $193.33 a month and $1,599.68 in total interest.
How to Use Loan Calculator
Enter Your Data
Enter the amount you want to borrow.
Run the Tool
Enter the annual interest rate and the loan term in years.
Use the Result
Press Calculate to see the monthly payment and total interest.
Why Use Our Loan Calculator?
100% Free
No registration, no hidden fees, no limits — ever.
Privacy First
All processing runs in your browser. Your data never leaves your device.
Mobile Friendly
Works perfectly on phones, tablets, and desktops.
Instant Results
Results appear as soon as you run the tool.
Frequently Asked Questions
Q. Does this include fees?
No. Origination fees, insurance and other charges aren't included. Lenders must disclose the APR, which includes most fees, so compare offers by APR.
Q. How can I pay less interest?
A shorter term, a lower rate or extra payments toward the principal all reduce total interest. Try different terms in the calculator to see the difference.
Q. Does it work for variable-rate loans?
Only as an estimate for the current rate. If your rate changes, your payment will change too.