FREE CALCULATOR
Loan Calculator
Calculate your monthly loan payment, total interest paid, and total repayment for any loan amount, interest rate, and term.
Monthly Payment
$391.32
Total Payment
$23,479.38
Total Interest
$3,479.38
Why Use Our Loan Calculator?
Monthly Payment Calculation
Uses the standard amortization formula to calculate your exact monthly payment for any loan amount and rate.
Months or Years Input
Enter the loan term in months or years - switch between them with one click.
Total Interest Breakdown
Shows total payment and total interest alongside the monthly payment so you see the full cost of the loan.
Works for Any Loan Type
Use it for personal loans, auto loans, student loans, or any fixed-rate installment loan.
100% Private
All calculations happen locally. No financial information is sent anywhere.
No Sign-up Required
Open and calculate immediately with no account or installation needed.
Frequently Asked Questions
How is the monthly payment calculated?
It uses the standard loan amortization formula: P * r * (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate, and n is the number of payments.
What types of loans does this work for?
It works for any fixed-rate installment loan including personal loans, auto loans, and student loans. It does not account for variable rates.
Can I enter the term in years or months?
Yes. Use the toggle button to switch between months and years. The calculator converts your input automatically.
Why is my total interest so high?
On long-term loans even a moderate interest rate results in significant total interest. A 6% rate on a 5-year loan adds about 16% to the total cost.
Is my financial data private?
Yes. All calculations happen locally in your browser. No data is sent to any server.
Is the loan calculator free?
Yes. Completely free with no sign-up required.
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