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Loan Calculator
Calculate monthly payments, total interest and total cost for any loan.
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Monthly Payment
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Total Interest
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Total Payment
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How to use the Loan Calculator
Type in the loan amount, annual interest rate and term in years. Your monthly payment, total interest and total repayment update instantly.
How loan payments are calculated
Monthly payment M = P × r(1+r)n / ((1+r)n − 1). Early payments are mostly interest; later ones mostly principal — that's amortization. Doubling down on the amortization calculator shows the split payment by payment.
Comparing loan offers
Never compare by monthly payment alone — a longer term lowers the payment but raises total interest. Compare APR (rate + fees) and total cost. Our APR calculator reveals the true rate when fees are involved.
Frequently Asked Questions
A table showing how each payment is split between interest and principal over the life of the loan. Early payments are mostly interest; later ones mostly principal.
Yes — stretching the same loan over more years lowers the monthly payment but increases total interest paid.