Loan Calculator
Work out the true cost of any loan before you sign. Enter your loan amount, interest rate, and term to get your exact payment, total interest, and a full month-by-month amortization schedule — all calculated instantly in your browser.
Payment Every Month
Amortization Schedule
See exactly how each payment splits between principal and interest.
| # | Payment | Principal | Interest | Balance |
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Frequently Asked Questions
A fixed loan payment is calculated from the loan amount, the periodic interest rate, and the total number of payments, structured so the balance reaches exactly zero at the end of the term while every payment stays the same size.
The interest rate is simply the cost of borrowing the principal. APR (annual percentage rate) layers in most lender fees on top of that rate, so it usually gives a more complete picture of what the loan really costs per year.
Yes. Any extra amount you pay is applied straight to the principal, which shrinks the balance that future interest gets charged on. That combination shortens the loan term and lowers the total interest paid over the life of the loan.
It's a table listing every payment across the life of the loan, showing how much of each one covers interest versus principal, along with the remaining balance after each payment is applied.
Interest is charged on whatever balance remains at the start of each period. Since the balance is largest early in the loan, those first payments carry more interest and less principal — and the ratio gradually flips as the balance shrinks.
This calculator provides estimates for informational purposes only and does not constitute financial advice. Actual loan terms, fees, and payments are set by your lender and may differ from the results shown here. Always confirm figures with your loan agreement before making financial decisions.