Loan Calculator – Calculate Loan Payment, Interest & Repayment Online
Loan Calculator
Estimate loan payments, total interest, repayment cost and yearly breakdown.
Loan Information
Loan Summary
Principal vs Interest
Yearly Repayment Breakdown
| Year | Payments | Principal | Interest | Total Paid | Ending Balance |
|---|
Free Online Loan Calculator
Estimate monthly loan payments, total interest and total repayment from a loan amount, fixed annual interest rate and loan tenure. You can also include an optional extra monthly payment to estimate its effect on repayment time and interest.
How to Use the Loan Calculator
- Enter the loan amount.
- Enter the annual interest rate.
- Enter the loan tenure and choose years or months.
- Optionally enter an extra monthly payment.
- Click Calculate Loan to view the payment, interest, repayment period and yearly breakdown.
Loan Payment and Extra Payment Estimates
The calculator uses monthly reducing-balance payments with a fixed annual interest rate. When an extra monthly payment is entered, it is added to the standard monthly payment and the calculator estimates the resulting repayment period and total interest. Results also include a principal-versus-interest breakdown and yearly repayment table.
Frequently Asked Questions
What information do I need to calculate a loan payment?
Enter the loan amount, annual interest rate and loan tenure. The tenure can be entered in years or months.
Can I include an extra monthly payment?
Yes. The optional extra payment is added to the standard monthly payment so the tool can estimate the resulting repayment period and interest.
What results does the loan calculator show?
It shows the monthly payment, total interest, total repayment, actual repayment period, number of payments, principal-versus-interest breakdown and yearly repayment details.
Does the calculator support 0% interest?
Yes. With a 0% annual rate, the standard payment is calculated by dividing the principal by the number of months.
Are these results the same as a lender quote?
No. The results are estimates based on a fixed annual interest rate and monthly reducing-balance payments. Fees, insurance, taxes and rate changes can affect actual repayment.