Loan Calculator

How to Use

1. Enter the loan principal, annual interest rate, and term in months.
2. Choose a repayment type (equal monthly installments).
3. The monthly payment, total interest, and total repayment are calculated instantly.

Calculation Method

For an equal-installment loan, the monthly payment is calculated with the standard amortization formula: M = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of months. Each payment is split between interest and principal; early payments contain more interest, later payments contain more principal.

Common Uses

• Estimating monthly payments before taking out a mortgage, car loan, or personal loan.
• Comparing total interest cost across different loan terms or interest rates.
• Budgeting for a major purchase financed with debt.