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🏦 Loan Calculator
Monthly payment, total cost and interest
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About the Loan Calculator
Estimate the monthly payment on any loan, including mortgages, car loans and personal loans, using the standard amortisation formula. Enter the loan amount, annual interest rate and term in years.
You will see the monthly payment, total amount paid over the life of the loan, and the total interest cost. Use it to compare offers or stress-test your budget before signing.
How it works
- Enter the loan principal.
- Enter the annual interest rate.
- Enter the term in years and read the monthly payment.
What you'll learn
- How loan payments are split between interest and principal.
- Why a longer term lowers the payment but raises total interest.
- How even small rate changes compound over decades.
FAQs
- Does this include fees or insurance?
- No. It calculates the pure principal-plus-interest payment. Add fees, taxes and insurance separately.
- Is this the same as APR?
- Not quite. APR includes certain fees as well as interest. Use APR for comparing offers.
Disclaimer: Estimates only. Not financial advice.