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Loan Calculator

Loan calculator and loan interest calculator in one: monthly payment, total interest, and a full amortization schedule, with equal-payment (amortizing) or equal-principal repayment. Educational estimate.

Repayment type
Monthly payment
1,014
Average monthly payment
1,014
Number of payments
60
Total paid
60,829
Total interest
10,829
Interest share of total paid
17.8%
MonthPaymentPrincipalInterestBalance
11,01468033349,320
21,01468532948,634
31,01469032447,945
41,01469432047,251
51,01469931546,552
61,01470331045,848
71,01470830645,140
81,01471330144,427
91,01471829643,710
101,01472229142,987
111,01472728742,260
121,01473228241,528

Educational estimate only, not financial, banking, or credit advice, and not an offer of a loan. Actual loan terms depend on the lender, your credit profile, fees, insurance, indexation, and early-repayment penalties. Check with the lender or a qualified professional before any financial decision.

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Quick answer: this is a loan calculator and a loan interest calculator in one. Enter the loan amount, the annual interest rate, and the term, choose a repayment type (equal payment or equal principal), and you get the monthly payment, the total you will pay, the total interest, and a full amortization schedule showing how much of each payment goes to principal and how much to interest. That lets you compare offers by their true cost, not just the monthly payment. Everything runs in your browser: nothing is uploaded, there is no signup, and no amounts leave your device. This is an educational estimate, not financial advice. Last updated: May 2026.

01

How to use this tool

  1. 01Enter the amount, rate, and termType the loan amount, the annual interest rate (APR-style nominal rate), and the term in years and/or months.
  2. 02Choose a repayment typeEqual payment (amortizing) keeps the monthly payment roughly fixed. Equal principal repays the same slice of principal each month, so the payment starts higher and falls over time.
  3. 03Read the payment and scheduleYou get the monthly payment, the total interest, and a month-by-month amortization schedule with the principal and interest portion of every payment.
02

When is this useful?

  • Estimating a car loan paymentBefore you sign for a car, check what the monthly payment looks like at the dealer rate and term, so you know whether it fits your budget.
  • Sizing a personal loanEnter the amount you want to borrow and the rate you were quoted to see the monthly payment and the total interest over the life of the loan.
  • Comparing repayment typesSee how equal payment and equal principal change the monthly payment and the total interest for the same amount, rate, and term.
  • Comparing two offersCompare different rates and terms side by side to see which offer is cheaper overall, not just which has the lower monthly payment.
03

Examples

  • 50,000 at 8% for 5 years, equal paymentA mid-size loan on the equal-payment method gives a fixed monthly payment, and most of the interest is paid early in the term while the balance is still high.
  • 100,000 at 6% for 7 years, equal principalWith equal principal the monthly payment starts high and falls steadily, because interest is charged on a balance that keeps shrinking. Total interest is usually lower than equal payment for the same rate and term.
  • 20,000 at 0% for 24 monthsAt 0% interest the total paid equals the loan amount exactly, and the monthly payment is simply the amount divided by the number of months.
04

Tips for a better result

  • A shorter term means less interestA lower rate or a shorter term generally reduces the total interest you pay, even though a shorter term raises the monthly payment.
  • A low payment is not always cheapStretching the term lowers the monthly payment but usually increases the total interest over the life of the loan.
  • Compare the total costCompare offers by total interest and total cost, not only by the monthly payment, so a long, low-payment loan does not look cheaper than it is.
  • Rate and fees are not the sameThis tool models principal and interest only. Origination fees, insurance, and penalties change the real cost, so look at the lender APR and fee schedule too.

  • How amortization works

    Amortization is the process of paying off a loan with regular payments, where each payment covers the interest accrued since the last payment and then reduces the remaining principal. Early in the term the balance is high, so a large share of each payment is interest and only a little goes to principal. As the balance falls, the interest portion shrinks and more of each payment chips away at principal. The amortization schedule in this tool shows that split month by month, so you can see exactly when the balance crosses key milestones.

  • Equal payment vs equal principal

    With the equal-payment (amortizing) method the monthly payment is fixed for the whole term, computed with the standard payment formula. It is predictable and easier to budget, but you pay more interest overall because the balance comes down more slowly at first. With the equal-principal method you repay the same slice of principal every month and add interest on the remaining balance. The payment starts higher and decreases over time. Because the balance falls faster, the total interest is usually lower, but the early payments demand more cash. Which one is better depends on whether you value a steady payment or a lower total cost.

  • How the monthly payment is calculated

    For the equal-payment (amortizing) method the monthly payment calculator solves for a single fixed amount using the standard formula payment = P x r / (1 - (1+r)^-n), where P is the loan amount, r is the monthly interest rate (the annual rate divided by 12), and n is the number of months in the term. For the equal-principal method the principal slice is fixed at P / n and the interest portion each month is charged on the remaining balance, so the monthly payment starts higher and falls. At 0% interest the monthly payment is simply the amount divided by the number of months. The math is fully deterministic and based only on the values you enter; there is no connection to any lender and no data is stored.

  • Total interest and total repayment

    The total interest is the sum of the interest portion of every scheduled payment over the full term, and the total repayment is the loan amount plus that total interest. The amortization schedule calculator adds up each month so you can see the true cost of the loan rather than judging it by the monthly payment alone. A longer term lowers each monthly payment but raises the total interest, because interest keeps accruing on the outstanding balance for more months. A lower annual interest rate, a shorter term, or the equal-principal method each tend to reduce the total interest for the same loan amount.

  • What is not included

    The calculation covers principal and interest only. It does not include origination or processing fees, mandatory insurance, indexation or inflation adjustment, late fees, or early-repayment penalties. It also assumes a fixed rate; a variable-rate loan can change after origination. Because of these, the real cost of a loan can differ from the estimate here. Use the figures as a starting point and confirm the full terms with the lender.

  • Privacy

    Everything happens in your browser. The amounts, rate, and term you enter, and every result and schedule row, are computed locally. Nothing is uploaded, nothing is saved to localStorage, and no values are sent to analytics. Minimal operational analytics measure general usage only, such as a first successful use of the tool. No amount, rate, or result is ever sent.

05

Frequently asked questions

What is a loan calculator?

A tool that computes the monthly payment, total interest, and amortization schedule of a loan from the amount, the interest rate, the term, and the repayment type you choose.

What is amortization?

Amortization is paying off a loan with regular payments where each payment first covers the interest accrued and then reduces the principal. Early payments are mostly interest; later payments are mostly principal.

How is the monthly payment calculated?

For equal payment the monthly payment calculator solves for a fixed amount with the formula payment = P x r / (1 - (1+r)^-n), where P is the loan amount, r is the annual interest rate divided by 12, and n is the number of months. For equal principal the principal part is P divided by the number of months and the interest part is charged on the balance that is left, so the payment starts higher and falls. At 0% the payment is just the amount divided by the number of months.

What is an amortization schedule?

An amortization schedule is the month-by-month table of every payment, showing how much of each payment goes to interest, how much reduces the principal, and the remaining balance afterward. This loan calculator builds the full schedule and lets you show the first 12 months or expand it to all of them.

How much total interest will I pay?

The total interest is the sum of the interest portion of every payment across the whole term, shown as a single figure alongside the total repayment (loan amount plus total interest). A shorter term, a lower annual interest rate, or the equal-principal method each tend to lower the total interest for the same loan amount.

What is the difference between equal payment and equal principal?

With equal payment the monthly amount stays fixed, and the interest portion is larger at the start. With equal principal you repay the same slice of principal each month, so the payment starts higher and falls over time, usually with less total interest.

Does the calculator include fees and insurance?

No. It models principal and interest only. Origination fees, insurance, indexation, late fees, and early-repayment penalties are not included and can change the real cost of the loan.

What happens at 0% interest?

At 0% there is no interest, so the total paid equals the loan amount and the monthly payment is simply the amount divided by the number of months.

Is anything uploaded or stored?

No. All calculation happens in your browser. No amount, rate, term, or result is uploaded, saved, or sent to analytics.

Is this financial advice?

No. This is an educational estimate, not financial, banking, or credit advice, and not an offer of a loan. Confirm actual terms with the lender or a qualified professional before any decision.

Can I use it for a business loan?

You can use it for a rough estimate, but business loans often carry extra fees, indexation, and terms. For an exact figure, check with the lender or an advisor.

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