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Loan Calculator

Calculate loan payments, interest rates, and amortization

Currency

Loan Amount

Interest Rate (% per year)

Loan Term

💡 Loan Tips

• Compare rates from multiple lenders
• Consider making extra principal payments
• Shorter terms mean higher payments but less total interest
• Check for prepayment penalties
• Consider refinancing if rates drop significantly

About Loan Calculator

Our free loan calculator computes your monthly payment, total interest cost, and complete amortization schedule for any fixed-rate loan. Whether you are planning a mortgage, auto loan, personal loan, or business financing, this tool gives you instant, precise results to help you make informed financial decisions. Simply enter your loan amount, interest rate, and term to see a full breakdown.

The calculator uses the standard amortization formula to determine fixed monthly payments that cover both principal and interest over the life of your loan. It generates a detailed payment-by-payment amortization schedule showing exactly how much of each payment goes toward principal repayment versus interest, and the remaining balance after every payment.

With support for 40+ currencies, flexible term input in years or months, and multiple export formats (CSV, TXT, and PNG chart), this tool is designed for borrowers, financial planners, real estate professionals, and anyone who needs accurate loan calculations. All computations run entirely in your browser -- no data is ever sent to any server.

Key Features

Accurate Monthly Payment: Calculates fixed monthly payments using the standard loan amortization formula with precise decimal accuracy
Total Interest Cost: Shows the total amount of interest you will pay over the entire life of the loan
Full Amortization Schedule: Generates a detailed payment-by-payment table with principal, interest, and remaining balance for each month
Flexible Term Input: Enter the loan term in years or months for any loan duration
40+ Currency Support: Supports USD, EUR, GBP, JPY, CAD, AUD, CHF, INR, TRY, BRL, and many more currencies
CSV Export: Download the complete amortization schedule as a CSV file for use in spreadsheets
TXT Export: Export a formatted text report with loan summary and full payment schedule
PNG Chart Export: Generate and download a visual chart showing the balance payoff curve over time
Zero-Interest Support: Correctly handles interest-free loans with equal principal-only payments
Instant Calculations: Results appear immediately with no loading or processing delays

How to Calculate Your Loan

Select your currency: Choose from 40+ world currencies to display results in the appropriate format.
Enter the loan amount: Type the total principal amount you plan to borrow.
Enter the interest rate: Input the annual interest rate as a percentage (e.g., 5.5 for 5.5% APR).
Set the loan term: Enter the repayment period in years or months using the dropdown selector.
Click Calculate: Press the Calculate button to see your monthly payment, total amount, total interest, and number of payments.
View the amortization schedule: Click Show Amortization Schedule to see the detailed payment breakdown, and use the export buttons to download as CSV, TXT, or PNG.

Use Cases

Mortgage Planning: Calculate monthly mortgage payments and total interest for home purchases, and compare different loan terms and rates.
Auto Loan Comparison: Compare monthly payments across different car loan offers to find the best financing deal.
Personal Loan Budgeting: Determine monthly payment affordability before taking out a personal loan for debt consolidation or major expenses.
Business Loan Analysis: Evaluate commercial loan options and project cash flow impact with detailed amortization schedules.
Student Loan Planning: Calculate expected monthly payments and total cost for education financing decisions.
Refinancing Evaluation: Compare your current loan terms with refinancing offers to see potential savings on monthly payments and total interest.
Real Estate Investment: Analyze financing costs for investment properties and factor loan payments into rental income calculations.
Financial Education: Understand how loans work by seeing the principal versus interest split change over time in the amortization schedule.

Frequently Asked Questions

How is the monthly payment calculated?

The calculator uses the standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate, and n is the total number of payments. This produces a fixed monthly payment that fully repays the loan over the specified term.

Is this tool free to use?

Yes, this loan calculator is completely free with no registration, no usage limits, and no hidden fees. Use it as many times as you need for any type of loan calculation.

Is my data secure?

Yes. All calculations run entirely in your web browser. No financial information is ever sent to any server or stored anywhere outside your device.

Does this calculator account for variable interest rates?

This calculator is designed for fixed-rate loans with a constant interest rate throughout the term. For variable-rate loans, you can recalculate with updated rates as they change.

Can I use this for mortgage calculations?

Absolutely. This calculator works perfectly for mortgages. Enter your home loan amount, the mortgage interest rate, and the term (typically 15 or 30 years) to see your monthly payment and full amortization schedule.

What export formats are available?

You can export the amortization schedule in three formats: CSV for spreadsheet import, TXT for a formatted text report, and PNG for a visual balance payoff chart.

Tips & Best Practices

Compare multiple scenarios: Run calculations with different loan amounts, rates, and terms to find the optimal financing option for your budget.
Consider shorter terms: While shorter loan terms have higher monthly payments, they save significantly on total interest paid over the life of the loan.
Factor in extra payments: Making additional principal payments can dramatically reduce total interest and shorten your loan term. Use the amortization schedule to see the impact.
Use the APR, not the nominal rate: Enter the Annual Percentage Rate (APR) for the most accurate calculation, as it includes loan origination fees and other costs.
Export for detailed analysis: Download the CSV amortization schedule to create custom charts, run what-if scenarios, or share the data with your financial advisor.
Review the interest split: Check the amortization table to see how early payments are interest-heavy while later payments go mostly toward principal -- this helps you understand the true cost of borrowing.