Loan calculator
Calculate monthly loan payment and interest.
Term unit
Monthly payment
$1,610.46
Total interest
$279,767.35
Total paid
$579,767.35
Over 360 monthly payments.
Everything runs in your browser. Nothing is uploaded.
How it works
Type the loan
Type the loan amount, annual interest rate, and term (in years or months).
See the monthly payment
The monthly payment updates instantly using the standard amortising loan formula.
Compare scenarios
Compare scenarios — change the rate or term and watch the total interest move.
Questions
What does this tool do?
The Loan Calculator works out what a fixed-rate loan really costs. Enter the amount you are borrowing, the annual interest rate, and the term in years or months, and it returns the monthly payment, the total interest you will pay over the life of the loan, and the total amount repaid. It uses the standard amortising-loan formula — the same math a lender uses — so the figures line up with a typical mortgage, car loan, or personal loan quote.
Is anything sent to a server?
Yes. The whole calculation runs in the browser. The numbers you type never reach a server.
What formula is used?
We use the standard amortising loan formula: M = P × r(1+r)^n / ((1+r)^n − 1), where P is principal, r is the monthly interest rate (annual ÷ 12 ÷ 100), and n is the number of monthly payments.
How is total interest computed?
Total interest is the difference between everything you'll pay back over the life of the loan and the original amount you borrowed.
What's not covered?
This calculator handles fixed-rate amortising loans only. Variable-rate loans, balloon payments, and adjustable-rate mortgages (ARMs) need a more specialised tool.