💳 Loan Calculator
Free loan payment calculator — compute monthly payments, total interest, and amortization for any fixed-rate loan.…
728×90 Inline — Replace with your ad code
How the Loan Calculator Works
Enter your loan amount, annual interest rate, and repayment term to instantly see your monthly payment, total interest paid, and the full amortization breakdown. This calculator applies to personal loans, student loans, and any fixed-rate installment loan.
Monthly Payment = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
P = Loan Amount, r = Monthly Interest Rate, n = Number of Payments
P = Loan Amount, r = Monthly Interest Rate, n = Number of Payments
Amortization: How Your Payments Are Applied
Early in the loan, most of each payment covers interest. As the balance decreases over time, the interest portion shrinks and more goes toward principal — this is called negative amortization in reverse, or standard amortization. Making even one extra payment per year can reduce a 30-year loan by 4–6 years.
How to Reduce Your Loan Cost
- Improve your credit score before applying to qualify for a lower rate
- Make bi-weekly payments instead of monthly (results in one extra payment per year)
- Apply unexpected windfalls (bonuses, tax refunds) directly to principal
- Refinance if market rates have dropped significantly since you originated the loan
LoanMonthly PaymentAmortizationInterest