Loan Calculator – Estimate Your Monthly Payments Instantly
This Loan Calculator helps you estimate monthly payments, total repayment, and total interest for any fixed-rate loan. Whether you're planning to take out a home loan, car loan, student loan, or personal loan, this tool gives you fast, accurate results using the standard amortization formula used by banks and lenders.
Simply enter your loan amount, interest rate, and loan term to see your full repayment plan in seconds.
How the Loan Calculator Works
The tool uses a standard fixed-rate loan amortization formula, which calculates equal monthly payments over the full loan term.
Key Inputs Used
✔ Loan Amount
The total money borrowed (also called principal).
✔ Annual Interest Rate (%)
The yearly interest charged by the lender.
✔ Loan Term (Years)
How long you plan to repay the loan.
Amortization Formula
M=P×(1+r)n−1r(1+r)n
Where:
- M = Monthly payment
- P = Loan amount
- r = Monthly interest rate
- n = Number of months
The calculator applies the formula instantly and displays your repayment results.
How to Use the Loan Calculator
Step 1: Enter the loan amount
Type how much money you want to borrow.
Step 2: Enter the annual interest rate
Use your lender’s rate (e.g., 6.5%).
Step 3: Enter the loan term in years
Example: 5, 10, 15, 20, or 30 years.
Step 4: Click “Calculate Payment”
Your results appear instantly, including:
- Monthly payment
- Total repaid over the loan term
- Total interest paid
Example Loan Calculations
✔ Example 1: $100,000 loan at 5% for 20 years
Monthly payment: $659.96
Total paid: $158,390.40
Total interest: $58,390.40
✔ Example 2: $10,000 loan at 7% for 3 years
Monthly payment: $308.77
Total paid: $11,115.72
Total interest: $1,115.72
✔ Example 3: $250,000 home loan at 6.2% for 30 years
Monthly payment: $1,533.88
Total paid: $552,196.80
Total interest: $302,196.80
Why Use This Loan Calculator?
✔ Plan your budget
Know your monthly payment before applying for a loan.
✔ Compare loan options
Change the rate or term to see how payments change.
✔ Understand total interest
See how much you truly pay over time.
✔ Make smarter financial decisions
Avoid loans with high interest or long repayment terms.
✔ Works instantly
No sign-up, no ads blocking your view, and no complicated inputs.
Frequently Asked Questions (FAQ)
1. Does this calculator work for all loan types?
Yes — home loans, personal loans, car loans, student loans, and business loans.
2. Does it support loans with 0% interest?
Yes. If the interest rate is zero, it divides the loan evenly across the term.
3. Are taxes or insurance included?
No. This calculator estimates loan payments only, not escrow or add-ons.
4. Is the result accurate?
Yes. The calculator uses the same amortization formula used by banks and lenders.
5. What if I repay early?
The tool doesn’t calculate early payments, but early payoff reduces interest significantly.
6. Can I use this on mobile?
Yes. The calculator is fully mobile-friendly.
