Loan Calculator
Monthly payment, total interest and total cost of any loan.
🔒 100% browser-based — your data never leaves your device.
About this tool
Enter the loan amount, annual interest rate and term to get the fixed monthly payment, the total interest you will pay over the life of the loan, and the total amount repaid. It uses the standard amortization formula that banks use for mortgages, car loans and personal loans with equal monthly payments.
This is an educational calculator: real offers add fees, insurance and rate changes, so treat the result as a close estimate and compare actual quotes from lenders. It does not constitute financial advice.
Frequently asked questions
What formula is used?
The standard annuity formula: payment = P × r / (1 − (1+r)⁻ⁿ), where P is principal, r the monthly rate and n the number of months.
Why is total interest so high on long loans?
Interest accrues on the outstanding balance every month, and longer terms keep the balance high for more months. Shortening the term raises the monthly payment but cuts total interest sharply.
Does this include taxes and fees?
No. Origination fees, insurance and taxes vary by lender and country — add them separately when comparing offers.