Loan Calculator
Estimate monthly payments, total interest and an amortization table.
Amortization by year
| Year | Principal | Interest | Balance |
|---|
Processing and privacy
Processing varies by tool. Check the instructions for local processing, server requests, external services and any file or request limits before entering sensitive information.
Read the privacy policyHow this calculation works
Understand the method, inputs and limits behind your result.
- Formula
- Monthly payment = P × r / (1 − (1 + r)^−n). If r = 0, payment = P / n. Monthly interest = outstanding balance × r; principal repaid = payment − interest.
- Variables
- P = amount borrowed
- r = annual interest rate ÷ 100 ÷ 12
- n = number of monthly payments (years × 12)
- Units
- Principal and payments: selected currency
- Annual rate: percent
- Term: years or months
- Example
- At 0% interest, a 1,200 loan repaid over 12 months produces a monthly principal payment of 100.
- Assumptions
- Fixed rate and monthly payments. Principal and interest exclude taxes, insurance and fees; extra costs entered are added separately. Actual lender rounding and payment dates may differ.
- Source
- Last reviewed
- Implementation review; specialist review has not been recorded.
Methodology & References
The method depends on the selected model and input options. Review the assumptions and references above before interpreting the result.
- Enter Loan amount and Annual interest rate.
- Set Term and choose Years or Months.
- Review Monthly payment, Total paid, Total interest and Amortization by year.
Interpretation and limitations
- Does the estimate include fees, taxes or insurance? No. It uses principal, a constant interest rate and monthly repayment periods. Other charges can change the real cost.
- Can I model variable rates or extra payments? There are no controls for rate changes or additional payments. Use the lender’s schedule for the actual agreement and treat this as a simplified estimate.
References
Share this tool
Found it useful? Send it to a friend or teammate.
Rate this tool
0.0
0 ratings
- 5 stars 0
- 4 stars 0
- 3 stars 0
- 2 stars 0
- 1 star 0
Clear instructions
Find steps, examples and limitations below.
Use online
Open the tool in a supported web browser.
Free to use
No sign-up required. Tool-specific limits may apply.
How to use the Loan Calculator
Estimate payments and interest for a fixed-rate loan with equal monthly installments.
- 1 Enter Loan amount and Annual interest rate.
- 2 Set Term and choose Years or Months.
- 3 Review Monthly payment, Total paid, Total interest and Amortization by year.
Example and practical tips
At 0% interest, a 1,200 loan repaid over 12 months produces a monthly principal payment of 100.
Further reading
Frequently asked questions
Does the estimate include fees, taxes or insurance?
No. It uses principal, a constant interest rate and monthly repayment periods. Other charges can change the real cost.
Can I model variable rates or extra payments?
There are no controls for rate changes or additional payments. Use the lender’s schedule for the actual agreement and treat this as a simplified estimate.
Practical guides
-
How to Use Loan Calculator
Estimate monthly loan payments, total interest and total cost for any fixed-rate loan, with a full payment schedule. Free online loan calculator.
Report an issue
Something broken or not quite right? Tell us and we will look into it.