Loan Calculator
See the monthly payment and total interest of a loan.
- Monthly payment
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- Total interest
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- Total paid
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- Payments
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How to calculate a loan payment
- Enter the loan amount, the annual interest rate and the term.
- Add an extra monthly payment if you plan to pay more.
- Read the monthly payment and total interest, and download the schedule as CSV.
Questions
What kind of loan does it work out?
A fixed-rate loan repaid in equal monthly payments, with interest charged monthly at a twelfth of the annual rate. Fees, insurance and changing rates are not included.
Why is the last payment slightly different?
Payments and interest are rounded to the cent each month, so the last payment is whatever clears the balance exactly.
What does an extra monthly payment do?
It goes straight to the balance, so the loan is paid off sooner and costs less interest. The calculator shows how much sooner and how much less.
Is this financial advice?
No. It shows the figures for the numbers you enter. Your lender's offer may count interest differently.
Is anything I enter sent anywhere?
No. Every calculation happens inside your browser, and nothing is saved.