Loan Calculator
Calculate monthly loan payments, total interest paid, and view full amortization schedules. Enter the loan amount, interest rate, and term to see a complete repayment breakdown. Works for personal loans, auto loans, student loans, and any fixed-rate installment loan.
Key Features
- ✓Monthly payment calculation
- ✓Total interest over loan life
- ✓Full amortization schedule
- ✓Principal vs interest breakdown per payment
- ✓Extra payment impact analysis
- ✓Multiple loan comparison
How to Loan Calculator — Monthly Payments & Interest
- 1
Enter loan details
Input the loan amount, annual interest rate, and loan term in months or years.
- 2
View payment breakdown
See your monthly payment, total interest, and total cost.
- 3
Explore amortization
View the payment-by-payment breakdown showing principal and interest splits.
Common Use Cases
- •Estimating monthly payments before taking a loan
- •Comparing different loan offers by total cost
- •Understanding how extra payments reduce total interest
- •Planning personal or auto loan budgets
Frequently Asked Questions
How is the monthly payment calculated?▼
Using the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal, r is monthly rate, and n is number of payments.
Does it account for variable rates?▼
This calculator assumes a fixed interest rate. For variable rate loans, the payment may change over time as the rate adjusts.