Loan Calculator
Calculate the monthly payment, total interest and payoff date for a fixed-rate loan.
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What Loan Calculator does
Any fixed-rate instalment loan — personal, business or vehicle — is described by three numbers: the amount, the rate and the term. From those, the monthly payment follows exactly.
The calculator also shows the total interest, which is the figure that reveals what a long term really costs.
- Loan amount, term and annual interest rate
- Monthly payment and total repayment
- Split between principal and interest
- Payoff date
How to use Loan Calculator
- 1
Enter the amount
The sum you are borrowing, after any deposit.
- 2
Enter the rate and term
Use the annual interest rate. Longer terms lower the monthly payment and raise the total cost.
- 3
Look at the total, not just the monthly figure
Two loans with similar monthly payments can differ enormously in what you repay overall.
Limits and known behaviour
- Arrangement fees, insurance and early-repayment charges are not included, so this is not an APR calculation.
- Interest is compounded monthly and the rate is assumed fixed for the whole term.
- Overpayments, payment holidays and variable rates are not modelled.
- Amounts are calculated and displayed in US dollars using US lending conventions. The arithmetic is currency-independent, so the results hold for another currency if you read the symbol as your own.
- Figures are estimates for comparison and planning. They are not financial advice, not a quote, and not an offer of credit.
Privacy and data handling
Runs entirely in your browser
- Every figure you enter stays in this page. What you type about your borrowing is not transmitted, logged or stored anywhere.
- There is no account, no saved history and no autosave: reloading the page clears the form.
Site-wide data handling, including analytics and advertising, is described in the privacy policy.
Frequently asked questions
Is this the same as APR?
No. APR includes fees and charges as well as interest, which is what makes it comparable between lenders. This calculates interest only, so a real APR will be higher wherever fees apply.
Why does a longer term cost so much more?
Because interest is charged on the outstanding balance for longer. The monthly payment falls, but you pay it many more times and the balance reduces more slowly at first.