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Loan Calculator

Monthly payments, total interest and month-by-month schedule.

Introduction

Loan Calculator — Monthly payments, total interest and month-by-month schedule. Enter Loan amount, Annual rate (%), Term (years) to get an instant, accurate result.

Formula

Monthly payment = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), the same amortizing-loan formula used for EMI, with a full month-by-month schedule.

Step-by-step

  1. Enter the Loan amount.
  2. Enter the Annual rate (%).
  3. Enter the Term (years).
  4. Click Calculate to see your result instantly.

Real-world example

Example: With Loan amount = 20000, Annual rate (%) = 7.5, Term (years) = 4, the Loan Calculator gives Monthly Payment: 483.578, Total Interest: 3211.7459, Total Paid: 23211.7459.

Frequently Asked Questions

What does the amortization schedule show?
For each month, how much of your payment goes to principal vs. interest, and the remaining balance.
Why is more interest paid early in the loan?
Interest is charged on the outstanding balance, which is highest at the start, so early payments are interest-heavy.
What inputs does the Loan Calculator need?
You'll need to provide: Loan amount, Annual rate (%), Term (years). All fields use sensible defaults, so you can see a working example immediately and then adjust the values to match your own numbers.
How accurate is the Loan Calculator?
The Loan Calculator applies the formula exactly as calculated — Monthly payment = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), the same amortizing-loan formula used for EMI, with a full month-by-month schedule. — so results are precise for the inputs you provide. Accuracy depends on entering correct, realistic input values.
Are these results guaranteed?
No. The Loan Calculator gives an estimate based on the numbers you enter and standard financial formulas — actual rates, fees, taxes, and terms vary by lender, institution, and jurisdiction, and can change over time. This is not financial advice; consult a qualified financial professional for decisions specific to your situation.
Is the Loan Calculator free to use?
Yes, the Loan Calculator is completely free, requires no signup, and runs instantly in your browser.

About the Loan Calculator

The Loan Calculator uses a real, verifiable formula — Monthly payment = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), the same amortizing-loan formula used for EMI, with a full month-by-month schedule. — so results are accurate every time, not an approximation.