Loan Calculator
Calculate loan payments, interest rates, and amortization
Loan details
Loan calculation notes
- Compare the rate, term and costs of the available loan offers.
- Extra payments can change the payoff schedule; this model does not include them.
- At the same rate, shorter terms change the payment and total interest.
- Check the lender’s fees and prepayment terms separately.
- This fixed-rate model does not include taxes, insurance, fees or exchange-rate conversion.
Loan summary
Enter your details to calculate the result.
- Monthly payment
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- Total amount
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- Total interest
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- Number of payments
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Balance payoff chart
Inputs changed. Calculate again to update the results.
Enter your details to calculate the result.
Amortization schedule
| Payment # | Payment date | Principal | Interest | Total payment | Remaining balance |
|---|
About Loan Calculator
Our free loan calculator computes your monthly payment, total interest cost, and complete amortization schedule for a fixed-rate mortgage, auto loan, personal loan, or business financing. Enter the loan amount, interest rate, and term to see how much of each payment goes to interest and how the balance falls month by month.
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. The figures you enter are never sent anywhere or stored.
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 loan interest rate as a percentage, such as 5.5 for 5.5%.
- 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.
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?
The model estimates principal-and-interest payments for a fixed-rate mortgage. Enter the borrowed principal, annual interest rate and repayment term. Property taxes, insurance, mortgage insurance and lender fees are not included.
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: Extra principal payments can change interest and payoff time, but this calculator has no extra-payment field. Its exported schedule models the fixed payment only.
- Use the loan’s interest rate: Enter the stated interest rate for the payment calculation. APR can include origination fees and other costs; this model does not separately calculate those fees.
- 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.