Overview
What Is a Loan Calculator?
This tool calculates the monthly payment, total interest, and total cost of a loan based on the amount, interest rate, and term.
Calculate monthly payments and total interest on any loan.
This tool calculates the monthly payment, total interest, and total cost of a loan based on the amount, interest rate, and term.
Useful for auto loans, personal loans, student loans, or any fixed-rate installment loan.
Input the amount you're borrowing.
Input the annual interest rate.
Input the repayment period in months.
The result updates automatically.
Using the standard amortization formula based on principal, interest rate, and term.
APR includes fees and other loan costs; the base interest rate does not.
Yes, longer terms mean more total interest paid, even though the monthly payment is lower.
Yes, this works for any fixed-rate installment loan including auto loans.
This calculator shows the standard schedule - extra payments would reduce your total interest and payoff time beyond what's shown.
No, this assumes a fixed rate throughout the term.
The total interest is your total payments minus your original loan amount.
Yes, calculate each offer separately and compare the monthly payment and total cost.
No, only principal and interest are calculated - fees would be additional.
Yes, completely free with no sign-up required.