Loan Calculator
Estimate monthly payments on a loan, see total interest and total cost, and review a full month-by-month amortization schedule.
How to use
- 1
Enter the loan amount.
- 2
Enter the annual interest rate (%).
- 3
Set the term in months or years.
- 4
Review the payment summary and the full schedule.
How it works
The monthly payment uses the standard annuity formula: payment = amount x r / (1 - (1 + r)^-n), where r is the monthly interest rate. Each schedule row shows the portion of the payment going to interest versus principal.
Frequently asked questions
Is the calculator accurate?
It uses the standard amortization formula. It is a good estimate; your lender may round or use a different day-count convention.
Can I change months to years?
Yes, the term field accepts years or months and converts between them.
What is an amortization schedule?
A table showing every payment, split into the interest cost and the principal repaid, with the remaining balance after each month.
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