Calculators
Loan Calculator
Calculate a loan's monthly payment, total repayment, and total interest from the principal, interest rate, and term.
How to use it
- Enter the loan principal (the amount borrowed).
- Enter the annual interest rate as a percentage.
- Enter the loan term in years.
- See your monthly payment, total amount repaid, and total interest instantly.
About this tool
Calculate the monthly payment, total repayment, and total interest for a fixed-rate loan, given the principal, annual interest rate, and loan term.
Frequently asked questions
- What formula does this use?
- The standard fixed-rate amortization formula, assuming equal monthly payments over the full term at a constant interest rate - the same math behind most mortgage and auto-loan calculators.
- Does it handle a 0% interest rate?
- Yes - with a 0% rate, the loan is simply divided evenly across the number of monthly payments.