Loan Calculator

This loan calculator answers the questions that matter before signing anything: what the monthly payment will be, how much the loan costs in total, and how much of that total is interest. Enter the amount, the annual interest rate and the term — in years or months — and the results update as you type. Opening the options reveals a complete amortization schedule showing exactly how every payment splits between interest and principal, month by month, until the balance reaches zero.

The math is the standard fixed-rate amortization formula used by banks worldwide for mortgages, auto loans and personal loans: the annual rate is divided into a monthly rate, and the payment is solved so the final installment lands the balance exactly at zero. All computation happens in your browser — no figures are transmitted or stored anywhere, so you can experiment freely with real salary and debt numbers without them touching a server, and the page keeps working offline once loaded.

The most valuable habit is comparison. Before accepting an offer, run two or three scenarios side by side: the same amount over 48 versus 60 months, or the rate you were quoted against a rate half a point lower. The differences in total interest are often striking — stretching a term makes the monthly payment friendlier while quietly adding thousands to the total cost. The amortization table also shows why early overpayments are so effective: in the first years most of each payment services interest, so every extra unit paid then goes straight at the principal.

Keep in mind what the calculator deliberately leaves out. It models principal and interest only — property taxes, insurance, origination fees and prepayment penalties vary by lender and country and must be budgeted separately. And when comparing lenders, ask for the APR rather than the bare rate, since it captures mandatory fees that a payment formula alone cannot see.