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Loan Calculator

Calculate monthly payments and total interest for personal loans, student loans, and other types of loans.

Loan Information
Enter your loan details

About Loan Calculator

Use this loan calculator to determine your monthly payment, total payment amount, and total interest paid over the life of a loan. This calculator can be used for auto loans, personal loans, student loans, or any other type of fixed-rate loan.

Understanding Your Results

  • Monthly Payment: The amount you'll pay each month throughout the loan term
  • Total Payment: The sum of all monthly payments over the loan lifetime
  • Total Interest: The total amount of interest you'll pay over the life of the loan

Making extra payments toward your principal can significantly reduce the total interest paid and shorten the loan term. Always check with your lender about prepayment penalties before making extra payments.

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Take this calculation further

Browse the financial calculators collection for more tools in this subject.

For a related calculation, use Payment Calculator to calculate monthly loan payments using standard amortization formula for any loan amount and term. Alternatively, use Mortgage Calculator to calculate monthly mortgage payments, total interest, and amortization schedule for your home loan.

For the underlying method, read How to Calculate a Mortgage Payment: Principal, Interest, and the Real Monthly Cost or How to Read an Amortization Schedule and Save Interest with Extra Principal.