01 / Fast steps
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the loan term in months.
- Read the results instantly, updated as you type.
Loan Calculator
Enter a loan amount, annual interest rate and term to instantly get the monthly payment, total cost and total interest.
Updates instantly as you type
02 / Best for
- Estimating the monthly payment on a mortgage or car loan.
- Comparing how term length changes total interest paid.
- Budgeting for a personal loan before applying.
03 / Keep in mind
- Assumes a fixed interest rate and a standard amortizing schedule with equal monthly payments.
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faq
Questions, answered.
01What formula is used?
The standard amortization formula for a fixed-rate loan with equal monthly payments (EMI).
02Does this account for fees or insurance?
No, it calculates principal and interest only, based on the values you enter.
03Is Loan Calculator free to use?
Yes, Loan Calculator is completely free, with no sign-up and no usage limits. It runs entirely in your browser, so your data never leaves your device.