Loan Calculator
Calculate monthly payments, interest, and total cost of loans. Runs on your device — nothing is uploaded, nothing is stored.
This loan calculator works out the monthly payment on a fixed-rate loan from three numbers: the amount borrowed, the annual interest rate and the term in years. It then shows the total you will repay, the total interest, and how that total splits between principal and interest, both as percentages and as a proportional bar. The starting values are 10,000 at 5% over 3 years, so you see a worked example immediately.
Turn on the payment schedule to see every month in a table: the payment, how much of it went to principal, how much to interest, and the balance still owed. The calculation uses the standard amortization formula with interest compounded monthly and payments made at the end of each month. A rate of 0% is handled as a simple division of the amount by the number of months. The term can be a decimal, so 2.5 years is 30 payments.
Why this runs on your device
A loan amount and rate can be personal, and here they stay in the page rather than being sent to a server or a lender's lead form. The practical gain is that you can change any number and watch the payment, interest and schedule update straight away.
- Enter the loan amount, the annual interest rate and the term in years.
- Read the monthly payment, total repaid and total interest, and the principal and interest split.
- Open the payment schedule to see each month's principal, interest and remaining balance.
- Fixed-rate, monthly payments only. There are no extra or one-off payments, no variable or promotional rates, and no choice of weekly or fortnightly payment.
- Fees, insurance, property tax and a down payment are not modelled, so the figures are the loan's own payments rather than an APR or a full mortgage cost. Subtract any down payment from the price yourself before entering the amount.
- Amounts are always formatted in US dollars with a $ sign. The arithmetic is the same for any currency, but the symbol will not change.
- A lender's quote can differ by a few cents or more because of rounding conventions, day-count methods and the date the first payment falls due.