Loan Calculator
Estimate monthly loan payments, total interest, and the full repayment cost with a clear principal-versus-interest breakdown.
Monthly payment
$500.95
Total interest
$5,056.92
Total repaid
$30,056.92
Principal: $25,000.00Interest: $5,056.92
| Year | Paid | Estimated balance |
|---|---|---|
| 1 | $6,011.38 | $20,000.00 |
| 2 | $12,022.77 | $15,000.00 |
| 3 | $18,034.15 | $10,000.00 |
| 4 | $24,045.54 | $5,000.00 |
| 5 | $30,056.92 | $0.00 |
Formula
Payment = P × r(1+r)ⁿ ÷ ((1+r)ⁿ−1)
P is principal, r is the monthly rate, and n is the number of monthly payments.
How it works
- 1
Enter the amount
Use the amount you expect to borrow, excluding any down payment.
- 2
Add rate and term
Enter the annual percentage rate and repayment period.
- 3
Compare the full cost
Review the monthly payment, total interest, and total repaid—not only the headline payment.
Common use cases
- Comparing personal loan offers
- Planning an auto purchase
- Testing shorter repayment terms
- Estimating interest savings
- Checking borrowing affordability
- Preparing a debt payoff plan
Frequently Asked Questions
- No. Add origination, insurance, and administration fees when comparing the true cost of offers.