Loan Calculator
Estimate the monthly payment, total interest, and total cost of a fixed-rate loan.
This estimates a standard fixed-rate, fixed-term loan with equal monthly payments. It doesn't account for fees, taxes, insurance, or variable rates that may apply to a real loan offer.
Overview
Enter a loan amount, interest rate, and term to see the estimated monthly payment along with how much you'd pay in interest over the life of the loan.
- Standard amortization formula, the same one lenders use for fixed-rate loans
- Shows both monthly payment and total interest cost
- Instant results as you adjust any input
How to use it
- 1Enter the loan amount, interest rate, and term
- 2Read the estimated monthly payment and total interest
Tips
- — A longer term lowers the monthly payment but increases total interest paid — it's worth comparing a couple of term lengths side by side
Frequently asked questions
Does this include fees or insurance?
No — it calculates a standard fixed-rate, fixed-term loan payment based only on principal, interest rate, and term. Real loan offers often include fees, taxes, or insurance not reflected here.
What loan types does this work for?
Any loan with equal fixed monthly payments — personal loans, auto loans, and basic mortgage estimates, as long as the rate doesn't change over the term.