Loan Calculator

Calculate monthly payments and total interest for any loan. Compare different terms side by side to find your best option.

Personal Loan Details

Loan Amount

$500$100K

Annual Interest Rate

1%36%

Loan Term

years

1 yr10 yrs

Start Date

Your Results

Monthly Payment

Total Interest

Total Cost

—

Payoff Date

$0Principal

$0Interest

Compare loan terms

Amortization Schedule

Year	Principal	Interest	Balance

How to use the loan calculator

Enter loan details

Input your loan amount, interest rate, and term. Use the tabs to switch between personal, auto, student, and business loans.

Compare terms

See how different loan terms affect your monthly payment and total interest paid side by side.

View amortization

The full amortization schedule shows exactly how your balance decreases month by month over the life of the loan.

Frequently asked questions

How is a loan payment calculated?

Monthly loan payments are calculated using the standard amortization formula, which factors in your loan amount, interest rate, and term. Each payment covers the interest accrued that month plus a portion of the principal balance.

Should I choose a shorter or longer loan term?

A shorter term means higher monthly payments but less total interest paid. A longer term means lower monthly payments but more interest over time. Use the term comparison section to see the trade-off for your specific loan.

What is a good interest rate for a personal loan?

Personal loan rates typically range from 6% to 36% depending on your credit score and lender. Borrowers with excellent credit (750+) often qualify for rates under 10%. Always compare multiple lenders before accepting an offer.

Is this calculator free?

Yes — completely free with no account or signup required.