Loan Calculator
Everything runs in your browser. Your data never leaves your device.
For illustration only, not financial advice. Real prices, taxes and loan terms depend on the provider, so check official sources.
What this loan calculator does
Enter a loan amount, an annual interest rate and a term, and the calculator shows your monthly payment, the total you will repay and the total interest. It is useful for comparing loan offers, deciding how much you can borrow, and seeing how a longer or shorter term changes the cost. You can enter the term in years or months.
How to use it
- Type the loan amount.
- Type the annual interest rate as a percentage.
- Enter the term and choose years or months.
- Read the monthly payment and total cost.
Formula
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r is the annual rate divided by 12 and by 100, and n is the number of monthly payments. If the rate is 0%, the payment is simply P ÷ n.
Total repayment = monthly payment × n. Total interest = total repayment − P.
Example: a loan of 200,000 at 6% for 30 years has 360 payments of 1,199.10, a total repayment of about 431,676 and interest of about 231,676.
Important
This is a standard fixed-rate calculation for illustration. It does not include fees, insurance, taxes or changes in rate, and it assumes payments at the end of each month. It is not financial advice, so check the bank’s written offer and the full cost before you borrow. Your numbers stay in your browser.
Frequently asked questions
How is the monthly payment calculated?
The calculator uses the standard amortization formula for a fixed interest rate, where each payment covers that month's interest and part of the loan balance.
Why is total interest so large on long loans?
Interest is charged on the remaining balance every month, so a longer term means more months of interest even though each payment is smaller.
Does this work for car, personal and home loans?
Yes, for any loan with a fixed rate and equal monthly payments. Some products, such as flat-rate installment plans or Islamic financing, use different methods.
Why is my bank's figure different?
Banks may add fees, insurance, rounding or a different interest method such as flat rate. Always check the offer's annual percentage rate and total cost.