Loan Payment Calculator
Calculate monthly loan payments, total interest, and total cost for personal, auto, or business loans.
Loan details
Total amount you plan to borrow.
Annual percentage rate (APR).
How long you'll take to repay the loan.
This calculator is for quick planning only. It does not include all possible fees, insurance, or taxes and is not financial advice.
Results
Payments are calculated assuming fixed monthly payments and a constant interest rate over the full term.
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Frequently Asked Questions
What does this loan calculator show?
It estimates your monthly payment, total amount repaid, and total interest based on the loan amount, interest rate, and term you enter.
Is this a replacement for professional financial advice?
No. This calculator is for planning and illustration only and does not take into account all fees, taxes, or special loan terms.
Can I use this for any type of loan?
Yes, you can use it for most standard amortizing loans such as personal, auto, and small business loans. Always check the details of your specific loan offer.
How This Loan Calculator Works
This free loan calculator uses a standard amortization formula to estimate your monthly payment, total amount repaid, and total interest. It's useful for comparing different loan offers or playing with "what if" scenarios before you commit.
You can use it for personal loans, auto loans, small business loans, and other fixed‑rate loans where you make the same payment every month.
Loan Calculator Example
If you borrow $25,000 at 7.5% per year for 5 years, your monthly payment is roughly in the mid‑$500s. Over the full term you'll pay back more than the original $25,000 — the difference is interest paid to the lender.
Tips for Comparing Loans
Look beyond the monthly payment
- • Check the total interest, not just the monthly amount
- • Shorter terms usually mean higher payments but less interest overall
- • Even a small rate change can add up over many years
Ask your lender about
- • Extra fees (origination, early repayment penalties)
- • Whether the rate is fixed or variable
- • What happens if you make extra payments
This tool is for educational purposes only and does not provide financial advice. Always compare your results with the official numbers from your lender before making decisions.