Loan Calculator
Enter your loan amount, rate and term to see your monthly payment, total interest and a full amortization schedule. Add an optional extra monthly payment to see how many months and how much interest you save.
Personal loan rates typically range from 6% to 36% APR depending on credit.
All inputs and results stay in your browser. Nothing is uploaded.
This calculator is informational only. Real loan terms depend on your lender's exact fees, compounding and rules. Always confirm figures with your lender before signing.
How to use this loan calculator
- Enter the loan amount, annual interest rate (APR) and the term in years or months.
- Optionally add an extra monthly payment to see savings.
- Read the monthly payment, total interest and total paid.
- Toggle the amortization schedule to see each payment broken into principal and interest, or download it as CSV.
Frequently asked questions
How is the monthly payment calculated?
Using the standard amortization formula M = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r is the periodic interest rate (APR ÷ 12) and n is the number of monthly payments.
Do extra payments really save that much?
Yes. Every extra dollar reduces the principal directly, which means less interest is charged on every future payment. The earlier the extra payment, the bigger the impact.
Does this calculator include fees, taxes or insurance?
No. It calculates only the principal and interest portion. Origination fees, insurance and taxes vary by lender and loan type, so always confirm the final figure with your lender.
Can I use it for any loan type?
Yes — any fixed-rate amortizing loan: personal, auto, student or business. For mortgages with taxes, insurance and PMI, use the Mortgage Calculator instead.