Loan calculator
See your monthly payment, the total interest you will pay, and how the loan is paid off month by month, before you borrow.
Your numbers stay on this page. Nothing is sent or saved anywhere.
This uses the common equal-monthly-payment method, with interest on the remaining balance. Lenders may add fees or work it out differently, so ask for their exact figures.
Monthly payment
Total interest
Total you will repay
| Month | Principal | Interest | Balance |
|---|---|---|---|
Enter an amount, a rate and a length (up to 50 years) to see your payments.
How to use Loan Calculator
-
1
Type the loan amount and the currency symbol.
-
2
Enter the interest rate per year and the length of the loan in months or years.
-
3
Read the monthly payment, the total interest and the total you will repay.
-
4
Scroll the table to see how each payment is split between principal and interest.
Frequently asked questions
How is the monthly payment calculated?
It uses the standard method for equal monthly payments, with interest charged on the balance that is still owed.
Is the interest rate yearly or monthly?
Yearly. If a lender quotes a monthly rate, such as 2% a month, multiply it by 12 and enter 24% here.
Does it include fees?
No. Add any application, insurance or service fees to the total yourself.
What if my lender charges flat interest?
Some lenders charge interest on the full amount for the whole term, which gives a different total. Ask your lender for the exact amount you will repay.
Is my information stored?
No. Everything stays on this page.
More free tools
Text Case Converter
Change text to UPPER, lower, Title or Sentence case, tidy extra spaces, or make a web-address style slug.
Invoice Maker
Create a clean invoice with your items, tax and payment details, then save it as a PDF. Nothing is uploaded.
Profit & Price Calculator
Work out your profit, margin and markup, the right selling price, and how many sales you need to break even.
Want to learn more?
Free courses, video tutorials and ready-made software, all from Francis Landford.