FAQ
What does a loan calculator estimate?
It typically estimates monthly payments, total repayment, and total interest based on loan amount, rate, and term.
Free finance tool
Loan Calculator
Calculate the monthly payment, total interest, and payoff timeline for any fixed-rate amortizing loan — personal loan, auto loan, or installment loan. Add extra payments to see how much interest and time you can save.
Loan calculator
Monthly$500.95
Total interest$5,057
PayoffDecember 2030
Monthly payment
$500.95
Total interest
$5,057
Total paid
$30,057
Payoff date
December 2030
Enter the three core numbers below for a quick estimate. Open Refine your estimate for start date and extra payments.
Quick estimate
Refine your estimate
Start date and extra payments. Open this to set the loan start month or model additional principal payments that shorten the loan.
Refine your estimate
Start date and extra payments. Open this to set the loan start month or model additional principal payments that shorten the loan.
Start date
Extra payments
Every dollar of extra payment goes straight to principal, shortening the loan and reducing total interest.
PrincipalInterest
Schedule
Amortization schedule
| Year | Principal | Interest | Ending balance |
|---|---|---|---|
| 2026 | $4,282 | $1,730 | $20,718 |
| 2027 | $4,614 | $1,397 | $16,104 |
| 2028 | $4,972 | $1,039 | $11,132 |
| 2029 | $5,358 | $653 | $5,774 |
| 2030 | $5,774 | $237 | $0 |
How to use this loan calculator
Estimate loan payments, total repayment, and borrowing costs with a simple calculator.
Enter the loan basicsLoan amount, interest rate, and term — the three numbers needed for any loan payment calculation.
Add extra paymentsOptional. Monthly, annual, or one-time. The summary shows interest saved and time saved as soon as you enter any extra.
Read the scheduleYearly view by default, monthly toggle for the full payment-by-payment breakdown. Download as CSV or print.
Frequently asked questions
These cover how the loan calculator works, what it does and doesn't include, and how extra payments affect the payoff timeline.
FAQ
Can a loan calculator help compare borrowing options?
Yes. It can help compare different loan terms, rates, and payment amounts before applying.
FAQ
Is a loan calculator the same as a mortgage calculator?
Not exactly. They are similar, but mortgage calculators are usually tailored to home loans and longer repayment terms.
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