Loan Calculator
Enter the amount, the yearly interest rate and the term to see your monthly payment, the total interest and a year-by-year table. Add an extra monthly payment to see how much interest you save and how many months sooner you finish. It works in any currency.
Runs in your browser. Your files never leave your device.
Paying extra each month ends the loan sooner and saves interest.
An estimate with a fixed rate and equal monthly payments. Fees, insurance and rate changes are not included.
How it works
- 01Enter the loan amount, interest rate and term.
- 02Optionally add an extra payment every month.
- 03Read the payment, total interest and time saved.
Tips and common mistakes
Compare more than the interest rate
Processing fees, insurance and prepayment charges change the real cost of a loan. Compare the total amount you will repay, not just the monthly payment.
Try a shorter term or an extra payment
A shorter term raises the monthly payment but cuts the total interest. Paying a little extra when you can usually shortens the loan, if the lender allows it without a fee.
Questions
How is the payment calculated?
It uses the standard formula for a loan with a fixed rate and equal monthly payments. Each payment covers the interest for the month and pays down part of the loan.
Do extra payments help?
Yes. Extra payments go straight to the loan amount, so you pay less interest and finish sooner.
Is my file uploaded to a server?
No. Everything happens inside your browser on your own device. Your files are never sent to us or anyone else.
Is it free?
Yes. It is free to use, with no signup, no watermark and no daily limit.