Finance
Loan Calculator
Calculate a loan payment schedule from principal, rate, and term.
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Instant result
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Transparent methodology
What the result includes—and what it does not
Built for borrowers estimating fixed monthly payments for an amortizing loan.
Calculation method
- 1The monthly rate is the annual rate divided by 12.
- 2The standard amortization formula produces an equal scheduled monthly payment.
- 3Total interest equals total scheduled repayment minus original principal.
Assumptions and limits
- The rate and payment frequency remain fixed for the entire term.
- Origination fees, optional products, late fees, taxes, prepayments, and balloon payments are excluded.
- APR can include costs not represented by a simple nominal interest-rate input.
Worked example
Fixed-payment loan estimate
Input: Enter the amount borrowed, annual rate, and term.
Output: The result shows the scheduled monthly payment, total repayment, and total interest.
Primary sources
How to use it
Three steps. One clear answer.
- 1Enter or paste the values requested by the tool.
- 2Review the input units and choose any relevant options.
- 3Calculate, then copy or download the result you need.
Built for trust
Useful without the friction.
- No registration or paywall before your result.
- Responsive controls for phone, tablet, and desktop.
- Clear assumptions and warnings where estimates have limits.
Frequently asked questions
How does the Loan Calculator work?
The monthly rate is the annual rate divided by 12. The standard amortization formula produces an equal scheduled monthly payment. Total interest equals total scheduled repayment minus original principal.
What should I check before using the result?
The rate and payment frequency remain fixed for the entire term. Origination fees, optional products, late fees, taxes, prepayments, and balloon payments are excluded. APR can include costs not represented by a simple nominal interest-rate input.
How current is this page?
The methodology and source notes were reviewed on 2026-07-24. Editable rates and inputs should still be checked against the provider or authority linked below.
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