Finance

Loan Calculator

Enter your loan amount, interest rate and term to see your monthly payment, total interest, and total repayment.

Loan details

How this loan calculator works

This tool uses the standard amortization formula to spread your loan's principal and interest evenly across every monthly payment, so you pay the same amount each month until the loan is paid off.

What affects your payment

A higher interest rate or longer term both change your monthly payment and total interest paid — a longer term lowers the monthly payment but increases the total interest over the life of the loan.

Frequently asked questions

Does this include taxes or insurance?

No — this calculates principal and interest only. Mortgage payments often include property tax and insurance on top of this figure.

What loan types can I use this for?

Any fixed-rate, fixed-term loan: personal loans, auto loans, mortgages, or student loans with a fixed rate.