Loan Calculator

How to use it

1. 1Enter the loan amount and choose your currency.
2. 2Enter the annual interest rate and the loan term in years.
3. 3Optionally add an extra monthly payment to see how much sooner you'd be debt-free.
4. 4Read the monthly payment, total interest, principal-vs-interest breakdown, and the remaining-balance chart over time.

Example

A $20,000 loan at 7.5% over 5 years costs about $401/month — $24,048 total, of which $4,048 is interest.

How it works

This uses the standard fixed-rate amortization formula: M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1], where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. Every payment is the same size, but early payments are mostly interest while later payments are mostly principal — the remaining-balance chart shows that shift over the life of the loan. Add an optional extra monthly payment to see how much sooner you'd be debt-free and how much interest it would save.

Frequently asked questions

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