Calculators
Loan Calculator
Estimate monthly payments for a fixed-rate loan.
What is this tool?
Before you sign for a car loan, personal loan, or mortgage, it helps to know what the monthly payment will be and how much of it goes to interest. Enter the amount, the annual rate, and the term to get an estimate based on the standard amortization formula.
This calculator uses the standard fixed-rate amortization formula with monthly compounding and monthly payments. Fees, insurance, taxes, variable rates, and early repayment are not included.
Results are estimates for educational purposes only and are not financial, lending, or investment advice. Confirm figures with your lender before making decisions.
How to use the Loan Calculator
- Enter the principal, annual interest rate (APR), and term in months.
- Click Calculate to see monthly payment, total payment, and total interest.
- Read the formula and assumptions shown with the result.
Examples
Example
$10,000 at 6% APR for 36 months → roughly $304.22 / month.
Frequently asked questions
Is this a mortgage quote?
No. It is a simplified estimate. Real loans may include fees, escrow, PMI, and different compounding conventions.
What formula is used?
M = P × r(1+r)^n / ((1+r)^n − 1), where r is the monthly rate and n is the number of months. Zero-interest loans divide principal evenly across months.
How can I lower the total interest I pay?
Choose a shorter term, negotiate a lower APR, or borrow less. Try different terms in the calculator to see how much each change saves.
Want more power later?
Premium tools, higher limits, and API access are on the roadmap. V1 stays free and private in your browser.