Loan Calculator

What will your monthly payment be, and how much interest will you pay over the life of the loan? Enter the loan amount, annual interest rate, and term to see your payment and total cost.

Inputs

Stated APR; we use monthly rate (APR ÷ 12) for the payment formula.

Loan term in years. Must be at least 1 year.

Results

Monthly payment$1,199.1
Total interest paid$231,676.38
Total amount to repay$431,676.38
Number of payments360

How it works

We use the standard amortization formula: equal monthly payments, with interest applied monthly (APR ÷ 12). Each payment splits between interest and principal so the loan is paid off by the end of the term. Total interest = (monthly payment × number of payments) − principal. This calculator does not include fees or extra payments—for amortization schedules and extra-payment scenarios, a dedicated mortgage or loan-repayment tool would be used.

For savings and growth over time, use the Compound Interest or Retirement calculators.

FAQ

Are these calculators financial advice?
No. All tools are for educational and estimation purposes only. Always do your own research and consider consulting a financial advisor.
Do you store my data?
No. All calculations run in your browser. We do not collect or store your inputs.
Is the rate an APR or something else?
We treat the rate you enter as an annual percentage rate (APR). The monthly rate is APR ÷ 12, and we use it in the standard loan payment formula. We do not convert between APR and APY for this calculator.
Why don't I see an amortization table?
This calculator shows only your monthly payment and total interest and repayment. For a full amortization schedule and extra-payment scenarios, use the Mortgage & Loan Repayment Calculator.
Do you include fees or extra payments?
No. This estimate assumes no origination fees, no points, and no extra payments. Your actual loan may have fees that change the effective cost; extra payments would reduce total interest and shorten the term. Use this as a baseline only.
How is this different from a mortgage calculator?
This is a simple loan calculator: principal, rate, and term → payment and totals. For a full schedule and extra payments, use the Mortgage & Loan Repayment Calculator. That tool adds an amortization table, optional extra payments, and payoff-date impact.

More calculators

Calculators are for education and estimation only. Not financial advice.