Free Loan Calculator — Monthly Payment & Total Interest
Enter your loan amount, interest rate and term to see the monthly payment and total interest immediately — compare offers before you sign anything.
Inputs
Why people use this calculator
- Monthly payment plus lifetime interest cost
- Compare lenders and terms in a few keystrokes
- Personal, auto, student and business loans
- Nothing is stored — every calculation stays in your browser
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OpenFrequently asked questions
›How is a loan payment calculated?
The standard amortisation formula spreads principal and interest evenly across the term, so each payment covers accrued interest first and the rest reduces the balance.
›Does a shorter term save money?
Usually yes. A shorter term means higher monthly payments but far less total interest paid.
›What is APR versus interest rate?
The interest rate is the cost of borrowing the principal. APR adds fees, so it is the more accurate figure to compare offers.
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