Loan Calculator
Estimate repayments, total interest and the total cost of any loan.
How to use Loan Calculator
- Enter the amount you want to borrow, the annual interest rate and the term of the loan.
- Choose years or months for the term.
- The monthly payment, total interest and total repayment are shown immediately.
About Loan Calculator
The Loan Calculator estimates the fixed monthly payment required to fully pay down an amortizing loan. The same formula applies to personal loans, home loans, car loans and business loans that use a fixed interest rate and monthly compounding.
This is a quick planning estimate. Actual loan offers include processing fees, late payment rules, floating rates, foreclosure charges and sometimes different compounding conventions that change the effective cost.
Features
- Monthly payment, total interest and total cost
- Term in months or years
- Rate slider from 0.1% to 25%
- Standard amortizing-loan formula
Frequently asked questions
How is this different from the EMI Calculator?
The mathematics is the same. The EMI Calculator additionally exposes a full month-by-month amortization schedule and defaults to a home-loan style view.
Can I model variable interest rates?
No. The tool assumes a single fixed rate for the whole term. With a floating rate the payment will change whenever the rate changes.
What about processing fees and other charges?
Add them separately. For a true comparison you usually want the effective APR rather than the headline rate.
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