Loan calculator
Estimate repayments and the total cost of a loan.
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
Related Tools
More than a quick loan calculator.
A loan calculator estimates repayment amounts and total borrowing cost from the loan amount, rate, and term you enter. It is a useful way to compare scenarios before speaking with a lender or deciding whether a payment fits a budget.
The result is illustrative only. A real loan may include fees, changing rates, insurance, taxes, prepayment rules, or a different amortisation method. Review a lender’s disclosure and obtain professional advice where appropriate.
How to use the loan calculator.
Start with the tool above. There is no account step between you and the result.
- 01
Enter the loan amount, rate, and term.
- 02
Review the estimated repayment and total cost.
- 03
Change one assumption at a time to compare scenarios.
Loan calculator answers.
Useful context before you use the result somewhere important.
Is this a loan offer?
No. It is an estimate based on the values you enter.
Does it include lender fees?
Not unless you include them in your own assumptions. Check the lender’s full disclosure.
Can a lower payment cost more overall?
Yes. A longer term can reduce a periodic payment while increasing total interest.
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