Calculate monthly payments, total interest, and total cost for any loan.
Enter your loan amount, annual interest rate, and the repayment term in either months or years. The calculator instantly computes your monthly payment, total interest paid over the life of the loan, and the overall total cost. An amortization summary breaks the loan down year by year so you can see how much principal versus interest you pay each year and track your remaining balance.
Most loans use an amortization schedule where each fixed monthly payment covers both interest and principal. In the early months a larger portion goes toward interest, while later payments chip away more at the principal balance. This calculator uses the standard amortization formula to give you accurate figures for fixed-rate loans including personal loans, auto loans, and student loans.
Knowing your monthly payment helps you budget effectively before committing to a loan. Comparing different interest rates and terms lets you see how even a small rate change can save you thousands over the life of the loan. Use the amortization summary to understand exactly when you will cross the halfway point on your balance. All calculations happen in your browser with no data sent to any server, keeping your financial details completely private.