Loan Calculator
Estimate your monthly loan payment, total repayment and total interest from the amount, interest rate and term. All calculation happens on your device.
How to calculate a loan payment
- Enter the loan amount and the annual interest rate.
- Set the term and choose years or months.
- Read your monthly payment, total paid and total interest instantly.
- Tick the schedule option to see a month-by-month breakdown.
FAQs
How is the monthly payment calculated?
It uses the standard amortization formula: M = P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate and n is the number of payments.
What happens at 0% interest?
At 0% interest the monthly payment is simply the principal divided by the number of payments, and total interest is zero.
Does the calculator include fees or taxes?
No. It covers principal and interest only. Fees, taxes and insurance are not included, so your actual lender quote may differ.
Does my data leave my device?
No. All calculation happens in your browser, so your loan details are never uploaded or stored anywhere.
Related Tools
Why use a loan calculator?
Use the Loan Calculator to compare loan offers and understand the true cost of borrowing before you commit, by seeing the monthly payment and total interest at a glance.
- Compare different interest rates and terms side by side before choosing a lender.
- See how much of your repayment goes to interest over the life of the loan.
- Budget with confidence using an accurate monthly payment figure.
Tips and Limits
The result is an estimate based on a fixed interest rate and equal monthly payments, and it excludes fees, taxes and insurance. Ask your lender for an exact quote before signing.