Free Loan Calculator Online
Calculate monthly payments, total interest, and view a full amortization schedule
| Month | Payment | Principal | Interest | Balance |
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Complete Loan Analysis
Everything you need to understand your loan at a glance
See your monthly payment update in real time as you adjust the loan amount, interest rate, or term length.
View a detailed period-by-period breakdown showing how each payment is split between principal and interest over the life of the loan.
Instantly see the total amount you will pay over the loan term and how much of that goes to interest versus principal.
About This Tool
A loan calculator estimates the fixed monthly payment on an amortising loan from three inputs: the amount borrowed, the annual interest rate, and the term. It uses the standard amortisation formula, in which each payment covers the interest accrued that month first and applies the remainder to the principal, so the balance falls faster near the end of the term.
Because early payments are mostly interest, the total repaid can be considerably more than the amount borrowed, and a longer term lowers the monthly payment while raising that total. The calculator shows the monthly figure alongside the total interest so you can compare terms honestly rather than looking at the monthly cost alone.
How to Use It
- Enter the loan amount, annual interest rate, and term in years.
- Read the monthly payment.
- Check the total interest and total repaid to compare different terms.
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