Calculate your monthly payment, total interest, and full amortization schedule for any loan.
The Loan Calculator is a free tool that computes your monthly payment, total interest, and full amortization schedule for any loan. Enter the loan amount, interest rate, and term, then choose between amortized (standard), interest-only, or simple flat-rate loan types. A month-by-month payment breakdown and a principal-vs-interest visual are included.
Calculate monthly mortgage payments and total interest over 15–30 years before applying for a home loan.
Compare monthly repayments for different loan amounts, terms, and rates when buying a new or used car.
Find the maximum loan amount you can afford based on your monthly budget before applying.
Model consolidating multiple debts into one loan and compare total interest costs to your current situation.
An amortized loan means each monthly payment covers both principal and interest. Early payments are mostly interest; later payments are mostly principal. This is the standard type for mortgages, car loans, and most personal loans.
With an interest-only loan, you pay only the interest each month and the full principal is owed at the end of the term. Monthly payments are lower, but the total cost is higher. Common for short-term investment or bridging loans.
No. The calculator computes payments based on principal, rate, and term only. Real-world loans may include origination fees, insurance, and other charges that are not accounted for here.
Yes, completely free with no registration required. Run as many loan scenarios as you need.