Loan Calculator
Easily calculate monthly loan payments, total payments, and interest with our free online Loan Calculator. Perfect for personal, car, or home loans.
Why use Loan Calculator?
A Loan Calculator helps you understand how much you’ll need to pay every month when you borrow money.
By entering the loan amount, interest rate, and repayment period, you can instantly see your monthly payment, total repayment, and total interest.
This makes it easy to compare different loan offers, plan your budget, and avoid surprises before committing to a loan.
Our Loan Calculator is 100% free, works online in your browser, and gives instant results.
How to use Loan Calculator
- Step 1 - Enter the loan amount you plan to borrow.
- Step 2 - Enter the annual interest rate in percentage (e.g. 8.5).
- Step 3 - Enter the loan term in years.
- Step 4 - Click the **Calculate** button to view monthly payment, total payment, and total interest.
Loan Calculator – FAQ
How does the Loan Calculator calculate monthly payments? +
The Loan Calculator uses the standard amortization formula. It takes into account the loan principal, interest rate, and loan term to calculate fixed monthly payments.
The formula ensures that the loan is paid off completely over the entered time period.
The formula ensures that the loan is paid off completely over the entered time period.
Why should I use a Loan Calculator before taking a loan? +
Using a Loan Calculator helps you make informed financial decisions.
You can quickly compare different loan amounts, interest rates, or terms to find the most affordable option.
It also prevents surprises by showing you the total cost of the loan, including interest.
You can quickly compare different loan amounts, interest rates, or terms to find the most affordable option.
It also prevents surprises by showing you the total cost of the loan, including interest.
Can I use this calculator for different types of loans? +
Yes! You can use this tool for personal loans, car loans, education loans, or home loans.
As long as you know the loan amount, interest rate, and repayment period, this calculator will give accurate results.
As long as you know the loan amount, interest rate, and repayment period, this calculator will give accurate results.