Loan Calculator
Find the monthly payment, total interest, and amortization schedule for any personal, home, car, or education loan.
About this calculator
This free loan calculator works out your monthly payment, total repayment, and total interest for any fixed-rate loan — personal, home, car, or education. Enter the loan amount, annual interest rate, and term, and optionally an extra monthly payment to see how much faster you could clear the debt and how much interest you would save.
A full amortization schedule shows how each instalment is divided between interest and principal over the life of the loan, and the payoff date updates automatically. Everything runs locally in your browser with nothing uploaded. Results are estimates for planning — confirm exact terms, fees, and rates with your lender.
Why use this tool
Monthly payment + schedule
Get your payment, total interest and a full amortization breakdown in seconds.
Flexible inputs
Adjust amount, rate and term to instantly see the effect on cost.
Private
All maths runs in your browser — nothing you enter is stored.
Common use cases
- Estimate payments on any loan
- See the interest cost of a longer term
- Compare two loan offers side by side
- Plan a repayment budget
Frequently asked questions
It uses the reducing-balance formula M = P[r(1+r)ⁿ]/[(1+r)ⁿ−1], where P is the loan amount, r is the monthly rate, and n is the number of months.
Yes — adding an extra amount each month goes straight to the principal, shortening the term and cutting total interest. The calculator shows your new payoff date.
Any amortizing loan — personal, home, car, or education. The maths is identical; the loan type is just a label for your reference.
A month-by-month table showing how each payment splits between interest and principal and how the balance falls to zero.
The math is exact for a fixed-rate loan, but lenders may add fees, insurance, or use different rounding, so treat it as a close estimate.