Loan Calculator
Enter a loan amount, interest rate, and term to estimate your monthly payment and total interest paid over the life of the loan. This is an informational estimate, not a loan offer or financial advice.
All calculations happen on your device — no financial amounts are sent to a server.
For informational purposes only, not financial advice. Always check the actual terms with your lender.
What this tool does
Calculates a loan's monthly payment from its amount, annual rate and term, with the total you will pay and the total interest, plus a chart of the balance falling over time.
When to use it
- Comparing loan offers at different rates and terms.
- Knowing the payment before applying.
- Seeing how much interest you will actually pay over the life of the loan.
- Testing what shortening or lengthening the term does to the payment and the interest.
How to use it
- Enter the loan amount.
- Enter the annual interest rate and the term in years.
- Run the calculation and read the monthly payment, the total paid and the total interest.
A practical example
Input
A given loan amount at an annual rate over five years.
Output
The fixed monthly payment, the total you will pay, and the total interest — with a chart showing the balance falling month by month.
Look at the total interest rather than the payment alone: a longer term lowers the monthly figure but raises what you pay overall, and that is the trade-off loan advertising does not show.
Limitations
- This is for information and is not financial advice or an actual offer from any lender.
- It assumes a fixed rate and equal payments; variable-rate loans behave differently.
- It excludes arrangement fees, insurance and early-settlement penalties, any of which can change the real cost noticeably.
- Lenders differ in how they compute interest; check the offer itself.
Privacy and processing
All calculations happen on your device and no financial amounts are sent to a server.
Technical notes
- The payment uses the standard equal-instalment formula, the basis of most fixed-payment loans.
Frequently Asked Questions
No — this is a general estimate for informational purposes only, not a loan offer, pre-approval, or financial advice from a lender.