FREE LOAN CALCULATOR

Calculate loan monthly payments, total interest and payoff schedule instantly. Free loan calculator, no signup.

Loan Amount ($)

Annual Interest Rate (%)

Loan Term

Loan Type

Please enter valid loan amount and interest rate.

How Loan Payments Are Calculated

Monthly payment = P × [r(1+r)^n] / [(1+r)^n-1] where P is principal, r is monthly interest rate, n is number of payments. Early payments go mostly to interest — later payments reduce principal faster.

Frequently Asked Questions

What is included in the payment?+

Principal and interest only. Does not include insurance, fees or taxes.

What is a good interest rate?+

Personal loans typically range 6-36% APR. Auto loans 3-12%. Student loans 4-8%.

Can I calculate any loan type?+

Yes — personal, auto, student or business loans all use the same formula.

Is it free?+

Yes, 100% free, no signup.