Loan Calculator

Calculate your monthly loan payments and total interest.

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Features

Instant Payment Calculation

Get immediate estimates for your monthly payments based on loan amount, rate, and term.

Principal vs. Interest

Visualize how much of your money goes towards the principal balance versus interest charges.

Flexible Loan Terms

Input loan terms in years or months to suit different types of loans.

Total Cost Analysis

See the total amount payable over the life of the loan, including the total interest cost.

About Loan Calculator

Estimate your monthly loan payments and total interest cost with our free Loan Calculator. Whether you are planning for a personal loan, auto loan, or student loan, this tool helps you understand the financial commitment before you sign. simply enter the loan amount, interest rate, and term to see your estimated monthly payment instantly. Formula Used: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ] Where: M = Total monthly payment P = The total amount of your loan i = Your interest rate, as a monthly percentage n = The total amount of months in your timeline for paying off your loan

How to Use Loan Calculator

  • 1
    Enter Loan Amount

    Input the total amount of money you plan to borrow.

  • 2
    Set Annual Interest Rate

    Enter the annual interest rate (APR) offered by the lender.

  • 3
    Choose Loan Term

    Specify how long you will have to repay the loan (e.g., 5 years).

  • 4
    Calculate

    The tool will automatically calculate your monthly payment as you type.

  • 5
    Review Breakdown

    Check the results to see your monthly payment, total interest, and total cost.

  • 6
    Adjust Needed

    Modify the inputs to see how different rates or terms affect your payment.

Loan Calculator | Monthly Payment & Interest Estimate