Loan Calculator
Work out repayments and total payable for personal, auto or business loans.
Loan details
Quick start
Estimated monthly payment
$512.91
Over 5 years
- Principal$25,000
- Total interest$5,775
- Loan amount
- $25,000
- Total interest
- $5,775
- Total of payments
- $30,775
- Interest as % of loan
- 23%
Payment breakdown over 5 years
Early payments are mostly interest; principal grows over time.
Yearly schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $4,191 | $1,964 | $20,809 |
| 2 | $4,561 | $1,594 | $16,248 |
| 3 | $4,964 | $1,191 | $11,284 |
| 4 | $5,403 | $752 | $5,881 |
| 5 | $5,881 | $274 | $0 |
About the Loan Calculator
A loan calculator helps you understand the real cost of borrowing before you commit. Whether it's a personal loan, car loan, student loan or business loan, the math is the same: you borrow a principal amount and repay it in fixed monthly instalments over a set term, with the lender charging interest on the balance you still owe.
This calculator shows your monthly payment, the total interest you'll pay, and the total amount repaid over the life of the loan, plus a year-by-year breakdown. Two factors drive the cost most: the interest rate (APR) and the term. A longer term lowers your monthly payment but increases the total interest. A shorter term costs more each month but far less overall.
Use the loan-type presets to start from typical figures, then fine-tune the amount, rate and term to match a specific offer. Comparing two quotes? Copy the share link for each and put them side by side.
Frequently asked questions
How is my monthly loan payment calculated?
We use the standard amortizing-loan formula. Your payment is fixed so the loan is fully repaid by the end of the term at the stated interest rate. Each payment covers the interest due that month plus a portion of the principal.
What's the difference between interest rate and APR?
The interest rate is the cost of borrowing the principal. APR (annual percentage rate) also folds in certain fees, so it reflects the true yearly cost. To compare offers fairly, compare APRs.
Should I choose a longer or shorter loan term?
A longer term lowers your monthly payment but increases the total interest you pay. A shorter term raises the monthly payment but costs far less overall. Pick the shortest term whose payment fits comfortably in your budget.
Does paying off a loan early save money?
Usually yes — extra payments reduce the principal, so less interest accrues over time. Check whether your lender charges a prepayment penalty first, as a few do.
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