Loan Calculator
Enter a loan amount, annual interest rate, and term in years to see the monthly payment, the total you will pay, and the total interest. The results update as you type.
About Loan Calculator
This loan calculator uses the standard amortizing payment formula, the same math behind car loans, personal loans, and mortgages. It assumes a fixed rate and equal monthly payments over the full term.
Seeing the monthly payment alongside the total interest makes it clear how the rate and term affect both what you pay each month and what the loan costs overall.
How to Use
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the term in years.
- Read the monthly payment, total paid, and total interest.
Frequently Asked Questions
How is the monthly payment calculated?
It uses the standard amortizing loan formula, which spreads the principal and interest into equal monthly payments over the term at a fixed rate.
Does this include taxes, fees, or insurance?
No. It covers principal and interest only. Real world loans may add other costs that are not included here.
Is the tool private?
Yes. The calculation runs in your browser and nothing is uploaded.
About Matt George
I'm Matt George, a software engineer in the startup space. I run my own shop building software for early-stage founders, and I love making free tools and experiences that people actually use. Enjoy using Loan Calculator!