Loan Calculator
Calculate monthly loan payments, total interest, and total cost for any fixed-rate loan instantly.
Loan Calculator is a fast, browser-based tool that computes your monthly repayment, total payment, and total interest for any standard fixed-rate loan. It is useful for comparing mortgage options, planning a car loan, estimating personal loan costs, or checking whether a financing offer makes sense before you sign. All calculations run entirely in your browser — no data is sent to a server.
Tool interface
The interface has three inputs and produces instant results:
- Loan Amount — the principal borrowed, with a currency selector (USD, EUR, GBP, TRY)
- Annual Interest Rate — the yearly rate in percent (enter 0 for interest-free loans)
- Loan Term — the repayment period in years or months
After clicking Calculate, the tool shows:
- Monthly Payment — the fixed amount due each month
- Total Payment — the sum of all payments over the full term
- Total Interest — the extra cost above the original loan amount
- A principal vs. interest bar showing what share of the total goes to each
Loan payment formula
The tool uses the standard amortisation formula for fixed-rate loans:
M = P × [r(1+r)^n] / [(1+r)^n − 1]Where:
M= monthly paymentP= principal (loan amount)r= monthly interest rate = annual rate ÷ 12 ÷ 100n= total number of monthly payments
For 0% interest loans the formula simplifies to M = P / n.
Common use cases
- Mortgage planning — find a monthly payment that fits your budget before approaching a lender
- Car loans — compare monthly costs across different terms or interest rates
- Personal loans — see how much extra interest you pay on a short vs. long repayment period
- Business financing — estimate the true cost of borrowing before committing to a deal
FAQ
What is an amortisation loan?
An amortisation loan has equal monthly payments throughout the term. Each payment covers the interest accrued that month plus a portion of the principal. Early payments are mostly interest; later payments are mostly principal. The balance reaches zero at the end of the term.
Why does my total interest seem high?
Long loan terms significantly increase total interest because you are paying interest on the outstanding balance for more months. Reducing the term or increasing the monthly payment — even slightly — reduces the total interest paid.
Does the calculator include fees or insurance?
No. This is a basic calculator that reflects principal and interest only. Real loans may include origination fees, mortgage insurance, or other charges. Contact your lender for the full cost breakdown.
Can I use it for a 0% interest loan?
Yes. Enter 0 in the Annual Interest Rate field. The tool divides the loan amount equally across all payment periods.
What currencies are supported?
The currency selector changes the symbol shown in the results ($, €, £, ₺). The calculator itself is currency-agnostic — the math is identical regardless of currency.