Loan Calculator
Calculate monthly loan payments, total interest, and amortization schedule. Compare terms for personal, auto, and student loans.
Calculate your loan payments, total interest, and amortization schedule with our free loan calculator. Perfect for personal loans, auto loans, student loans, and any other type of installment loan. Get instant results showing your monthly… Enter your figures above and get results on the spot. The tool runs locally so we never see your numbers.
About This Calculator
Calculate your loan payments, total interest, and amortization schedule with our free loan calculator. Perfect for personal loans, auto loans, student loans, and any other type of installment loan. Get instant results showing your monthly payment, total interest over the life of the loan, and see how different loan terms affect your payments.
How It Works
The loan calculator uses the standard loan payment formula: Monthly Payment = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is the principal loan amount, R is the monthly interest rate (annual rate divided by 12), and N is the number of monthly payments. It also calculates the total interest by subtracting the principal from the total amount paid over the loan term.
How to Use
- Enter your values in the calculator fields above
- Click the calculate button or let the calculator auto-update
- Review your results instantly
- Adjust values as needed to see different scenarios
Frequently Asked Questions
What is the difference between EMI and loan calculator?
EMI (Equated Monthly Installment) is the monthly payment amount. A loan calculator shows EMI plus additional details like total interest, amortization schedule, and how payments are split between principal and interest.
How does loan tenure affect my payments?
A longer loan tenure means lower monthly payments but higher total interest paid. A shorter tenure means higher monthly payments but less total interest. Use the calculator to find the balance that works for your budget.
Is the interest rate fixed or variable?
This calculator assumes a fixed interest rate. For variable rate loans, you would need to recalculate as rates change.
Why Use Our Free Loan Calculator Online?
Our Loan Calculator is free to use and requires no sign-up. You can try different loan amounts, rates, or terms and see results immediately. The maths is done on your device, so figures like loan or tax data are never sent to our servers. Bookmark this page or browse our finance tools for more planning helpers.