Loan Calculator

Use our Loan Calculator to see your monthly payment, the total interest and what a loan costs you in total — for a personal loan, car loan or any other fixed-rate loan repaid in equal monthly payments.

Enter the loan amount, the annual interest rate and the term in years and months. Each month, interest is charged on the balance still owed at the rate ÷ 12, and the rest of your payment pays the loan down, so the balance reaches zero with the last payment. For example, $10,000 at 5% over 5 years is $188.71 a month for 60 months, with $1,322.74 of interest — $11,322.74 in total.

The results show the payment, the number of payments, the total interest and the total paid; the final payment can differ by a few cents so the balance comes out exactly. The graphs show how the balance falls, how each year’s payments split between principal and interest, and the loan’s total cost, and the repayment schedule lists every payment.

The calculator assumes a fixed rate, no fees and no extra payments, so treat the results as an estimate; your lender’s figures are the ones that count. To see the yearly rate once fees are counted, use our True APR Calculator; for lower payments with a lump sum due at the end, our Balloon Loan Calculator.