Loan Calculator
Calculate monthly payments, total interest, and total cost of your loan.
Formula Used
Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ - 1]
Where P = Principal, r = Monthly interest rate, n = Number of payments
Loan Calculator — The Complete Guide
Plan your finances with our free loan payment calculator. This comprehensive mortgage calculator free tool computes monthly payments, total interest, and provides a complete loan amortization calculator breakdown.
Monthly Payment Calculator
Our monthly payment calculator determines your exact payment amount based on loan principal, interest rate, and term length. See instantly what you will pay each month for mortgages, car loans, and personal loans.
EMI Calculator Online
The EMI calculator online shows how your payment splits between principal and interest. Early payments are mostly interest; later payments go more toward principal. Understanding this helps with extra payment strategies.
Interest Calculator
The interest calculator reveals the true cost of borrowing. A $300,000 mortgage at 7% for 30 years costs $418,527 in interest — more than the original loan! See how different rates and terms affect your total cost.
Tips for Loan Calculations
- Shorter loan terms mean higher payments but much less total interest
- Even small rate differences add up to thousands over the loan term
- Extra principal payments can dramatically shorten your loan
- Compare total cost, not just monthly payment, when shopping for loans