How this loan calculator works
Enter how much you want to borrow, the annual interest rate, and the term in years. The calculator works out a fixed monthly payment using the standard amortization formula — the same method banks use — so the loan is fully paid off by the end of the term. It also shows the total amount you'll pay and how much of that is interest.
Lower your total interest
Two things reduce the interest you pay: a shorter term and a lower rate. A shorter term raises the monthly payment but can save a large amount of interest overall. Even small extra payments toward the principal shorten the loan and cut interest.
Frequently asked questions
What types of loans does this work for?
Any fixed-rate installment loan: car loans, personal loans, student loans, and home loans (mortgages). It does not model variable rates or extra fees.
Is APR the same as interest rate?
Not exactly. APR includes certain fees on top of the interest rate. For a rough estimate you can enter the APR in the rate field.
Is my data saved?
No. Everything runs in your browser and nothing is uploaded.