Loan Calculator
Monthly payment and total interest
Use this when you need a fast, accurate result — no sign-up, works entirely in your browser.
Monthly payment—
Total paid—
Total interest—
How to Use
- Enter your details into the fields above.
- Click the calculate button to get your result instantly.
- Use the clear button to start a new calculation.
Example
- $20,000 at 5.9% for 5 years → ≈ $385.73/month; total ≈ $23,143.60, interest ≈ $3,143.60
- $25,000 loan, 7% APR, 5 years → Monthly payment ≈ $495.03; total interest ≈ $4,701.80
Formula
Monthly payment = P × r × (1+r)n ÷ ((1+r)n − 1), where P = loan amount, r = annual rate ÷ 12, n = years × 12. Total interest = monthly × n − P. A shorter term means higher payments but noticeably less total interest.
About Loan Calculator
Monthly payment and total interest. This free online tool gives you fast, accurate results without registration or downloads.
Everything runs locally in your browser, so your data is never uploaded or stored — privacy first.
Frequently Asked Questions
How is a monthly loan payment calculated? +
The monthly payment is calculated using the loan amount, annual interest rate, and loan term. The formula amortizes the loan so each payment covers interest plus principal.
What is the difference between principal and interest? +
Principal is the original amount borrowed. Interest is the cost of borrowing that money, calculated as a percentage of the outstanding balance.
Is the Loan Calculator free to use? +
Yes, the Loan Calculator is completely free with no registration, login, or download required.
Is my financial data private? +
Yes. All calculations happen locally in your browser. Your numbers are never uploaded or stored on our servers.
Can I use the Loan Calculator on mobile? +
Yes, it works on any device — phone, tablet, or desktop — with instant results.