Loan Calculator
Calculate monthly loan payments and total interest for any loan type. See amortization schedules and compare loan terms.
Model: Generic model; no jurisdiction or annual schedule applies.
Amount: greater than 0, at most 1,000,000,000; up to 2 decimal places.
Amount: greater than 0, at most 1,000,000,000; up to 2 decimal places.
Annual rate: 0–100%; up to 4 decimal places.
Annual rate: 0–100%; up to 4 decimal places.
Term: whole number of months, 1–1200.
Term: whole number of months, 1–1200.
Monthly extra: 0–1,000,000,000; up to 2 decimal places.
Monthly extra: 0–1,000,000,000; up to 2 decimal places.
Use a dot or comma as decimal mark, without thousands separators.
Currency changes display only; no exchange conversion.
Example scenarios
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Regular monthly payment
The regular payment was raised to the smallest cent amount that reduces principal.
Payments include the monthly extra. Savings compare with the same cent-rounded schedule without extra.
- Last payment
- Total Payment
- Total Interest
Amounts are rounded to cents; the last payment settles the balance.
Savings with Extra Payments
Interest Saved:
Months Saved:
Payment Breakdown
Principal: ·
Interest: ·
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Method and limits
Fixed nominal annual rate, equal monthly periods, payments at period end.
Monthly rate = annual nominal rate / 12. The annuity formula gives the regular payment; at 0%, principal / months. Interest on each opening balance and the regular payment round half a cent upward. The last payment settles the remainder and may differ.
No fees, insurance, taxes, regulatory APR, actual calendar dates or national credit rules. Generic model; no jurisdiction or reference year applies.
Amounts are rounded to cents; the last payment settles the balance.
Currency changes display only; no exchange conversion.
Example: 100 over 3 months at 0% gives 33.33, 33.33 and 33.34; total 100.00.
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About Loan Calculator
Calculate loan payments, interest, and amortization schedules. Works for car loans, personal loans, and other fixed-rate loans. See total interest and payment breakdowns.
Example: 100 over 3 months at 0% gives 33.33, 33.33 and 33.34; total 100.00.
Page modification dates describe editorial changes, not external or legal verification.
Use Cases
How to use
Enter the loan amount
Set the interest rate (annual)
Term: whole number of months, 1–1200.
View monthly payment and total cost
Pro Tips
- Shorter terms = more monthly but less total interest
- Compare total cost, not just monthly payment
- Consider making extra payments to save interest
Frequently Asked Questions
Monthly rate = annual nominal rate / 12. The annuity formula gives the regular payment; at 0%, principal / months. Interest on each opening balance and the regular payment round half a cent upward. The last payment settles the remainder and may differ.
This calculator is for fixed rates. Variable rates can change over time.
No fees, insurance, taxes, regulatory APR, actual calendar dates or national credit rules. Generic model; no jurisdiction or reference year applies.
Amounts are rounded to cents; the last payment settles the balance. Payments include the monthly extra. Savings compare with the same cent-rounded schedule without extra. Example: 100 over 3 months at 0% gives 33.33, 33.33 and 33.34; total 100.00.
The nominal annual rate describes interest only. Regulatory APR includes applicable borrowing costs under local rules; this generic calculator does not calculate regulatory APR. No fees, insurance, taxes, regulatory APR, actual calendar dates or national credit rules. Generic model; no jurisdiction or reference year applies.