Loan Calculator
Calculate monthly loan payments, total interest and total repayment. Useful for mortgages, personal loans, car loans and general borrowing estimates.
Loan details
Enter your loan amount, interest rate and repayment term.
Common loan scenarios
How loan payments work
Loan payments are usually calculated using the loan amount, interest rate and repayment term. Higher interest rates or shorter repayment periods generally increase the monthly payment.
Why interest matters
Even small changes in interest rates can significantly affect the total repayment amount over many years.
Short vs long loan terms
Longer loan terms often reduce monthly payments but increase total interest paid over the life of the loan.
Common loan calculation mistakes
Only focusing on the monthly payment
Lower monthly payments can sometimes mean paying much more interest over time.
Ignoring fees and taxes
Real loans may include setup fees, insurance, taxes or variable interest rates not included here.
Assuming all loans use the same structure
Some loans use fixed rates, others use variable rates or different repayment schedules.
Free online loan calculator
This loan calculator estimates monthly loan repayments, total repayment amounts and total interest. It is useful for mortgages, car loans, personal loans and general borrowing estimates.
The calculator uses a standard fixed-rate repayment formula and is intended for planning and estimation purposes only.
What affects your monthly loan payment?
The biggest factors are the loan amount, interest rate and repayment term. A lower interest rate or a longer repayment period typically reduces the monthly payment, while a shorter repayment period increases it but reduces total interest paid.
Loan Calculator FAQ
How is a monthly loan payment calculated?
Monthly payments are calculated using the loan amount, annual interest rate and repayment term.
Does this calculator include fees?
No. This calculator estimates loan repayments based on principal, interest rate and loan term only.
Can I use this for mortgages?
Yes. The calculator works for mortgages, car loans and many other fixed-rate loans.
What happens if the interest rate changes?
Variable-rate loans may have changing monthly payments over time.
Why is total repayment much higher than the loan amount?
Interest accumulates over time, especially for long repayment periods.
Is this calculator free?
Yes. It is completely free and runs locally in your browser.