Loan Calculator: The Complete Guide
Estimate the monthly payment on any fixed-rate loan in seconds. Enter the amount you're borrowing, the annual interest rate, and the term to see exactly what you'll pay each month and how much interest the loan adds over its life.
Who the Loan Calculator is for
Anyone comparing loan offers, budgeting for a new borrowing, or checking how the rate and term change a monthly payment before signing.
How to use the Loan Calculator
- Type your values into the fields above — pick your currency or units where the calculator offers them.
- Results update automatically as you type; there's no submit button and nothing is sent to a server.
- Adjust any input to compare scenarios, then copy the result with a single click.
How it works
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments (years × 12). Total interest is the sum of all payments minus the principal.
Features
- Instant monthly payment
- Total interest & total cost
- Works in any currency
- Compare terms side by side
What is a loan calculator?
A loan calculator turns three numbers — amount, rate, and term — into the monthly payment and lifetime cost of a fully-amortizing loan. It's the fastest way to see whether a loan fits your budget and how much a lower rate or shorter term would actually save you.