Loan Calculator
Estimate the monthly payment, total interest and total cost of any loan from the amount, rate and term.
DISCLAIMER: This calculator provides estimates for general informational and educational purposes only and is not financial, investment, tax, or legal advice. Results are approximate and may not reflect your actual situation, fees, taxes, or current rates. Consult a qualified professional before making financial decisions.
What Is the Loan Calculator?
The Loan Calculator works out the monthly payment for any fixed-rate loan — car, personal, student or business — from the loan amount, annual interest rate and term. It also shows the total interest you'll pay and the total cost over the life of the loan. All math runs in your browser.
How It Works
Enter the loan amount, the annual interest rate and the term in years. The monthly payment, total interest and total of payments update instantly.
When to Use It
Use it when comparing loan or finance offers, budgeting for a car or major purchase, or checking how the rate and term change your monthly payment.
Frequently Asked Questions
- How is the monthly payment calculated?
- With the standard amortization formula using the loan amount, the monthly interest rate (annual ÷ 12) and the number of months (years × 12).
- Does this include taxes or fees?
- No — it's principal and interest only. For a home loan with taxes, insurance and HOA, use the Mortgage Calculator.
Last reviewed: 2026-06-27