How it works
Enter the loan amount, the annual interest rate and the term in years to see the monthly payment, using the standard amortizing-loan formula. Useful for comparing mortgage offers, car loans or any fixed-rate loan before you commit.
Loan Calculator
Work out the monthly payment, total paid and total interest for a loan or mortgage.
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Monthly payment
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Total paid
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Total interest
FAQ
What formula does it use?
The standard amortization formula: M = P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly interest rate and n the number of monthly payments.
Does it include fees or insurance?
No, only principal and interest at a fixed rate — real loans often add fees, insurance or a variable rate that this simple calculator doesn't account for.
What if the interest rate is 0%?
The monthly payment is simply the loan amount divided by the number of payments.