Loan Calculator
See what a loan costs per month and in total. Enter the amount, the yearly interest rate and the term.
Your data stays on your device.
An estimate for a loan with a fixed rate and equal monthly payments. Fees, insurance and taxes are not included, so a lender's offer can differ.
Features
- Monthly payment for a fixed-rate loan
- Total interest and total amount paid
- Year-by-year table of repayment and remaining balance
- Works for personal loans, car loans and mortgages
How to use Loan Calculator
- Enter the loan amount.
- Enter the yearly interest rate.
- Enter the term in years or months.
- Read the monthly payment and total cost.
Frequently asked questions
How is the monthly payment calculated?
With the standard formula for a loan with equal payments: amount x r / (1 - (1 + r)^-n), where r is the monthly interest rate and n the number of months.
Why do I pay so much interest at the start?
Interest is charged on what you still owe. Early on the balance is high, so most of each payment is interest. Later, more of it goes to repaying the loan.
Does this include fees and insurance?
No. Only the loan amount and interest are included. Fees, insurance and taxes come on top, so a lender's offer can be higher.
Is this financial advice?
No. It is a calculation to help you compare. For a decision about a real loan, check the lender's own figures.