The Loan Calculator estimates your monthly payment, total interest, and total repayment cost for any fixed-rate loan — in seconds. Enter the loan amount, annual interest rate, and term, and the tool shows you the complete repayment picture. No spreadsheet required, no financial background needed.

Whether you are shopping for a mortgage, comparing auto loan offers, planning a personal loan, or evaluating student loan repayment options, the numbers that matter most are the same: what will I pay each month, and how much will I pay in total over the life of the loan? This calculator answers both questions instantly.

Loan math is based on standard amortization: each fixed monthly payment covers both the interest due for that period and a portion of the principal. In early payments, most of the payment goes toward interest because the outstanding balance is high. As the balance decreases, the interest portion of each payment shrinks and the principal portion grows. By the final payment, almost everything goes toward principal. The total interest paid is the sum of all the interest portions across every payment in the loan term.

One of the most important trade-offs in borrowing is the relationship between loan term and total cost. A 60-month car loan has lower monthly payments than a 36-month loan on the same amount — but you pay significantly more interest over those extra 24 months. The calculator makes this trade-off explicit: run both scenarios and compare the total interest figure, not just the monthly payment.

The reverse approach is equally useful: if you know the monthly payment you can afford, adjust the loan amount until the result fits your budget. This helps you set a realistic ceiling before you begin negotiating or applying.

All calculations run in your browser. No data is transmitted or stored. Free with no account required.