Free Loan Calculator
Instantly calculate your monthly loan payments, total interest, and overall cost. Our responsive tool helps you make informed financial decisions with accurate, real-time calculations.
Loan Calculator
Enter your loan details below to see your payment breakdown.
Payment Summary
* Calculations are estimates. Actual loan terms may vary by lender.
About This Loan Calculator
Our Loan Calculator is a free financial tool designed to help you understand the cost of a loan before you apply. Whether you're planning for a mortgage, auto loan, personal loan, or student loan, this calculator provides instant, accurate results.
Simply adjust the loan amount, interest rate, and term to see how each factor affects your monthly payments and total interest paid. The calculator updates in real-time, giving you the flexibility to compare different scenarios and find a loan structure that fits your budget.
Key Features: Real-time calculation, responsive design, no registration required, works on all devices, and 100% free with no hidden fees.
Loan Calculation Formula
The calculator uses the standard Amortization Formula to determine your monthly payment:
Where:
M = Monthly Payment
P = Principal Loan Amount
i = Monthly Interest Rate (Annual Rate ÷ 12 ÷ 100)
n = Total Number of Payments (Loan Term in Months)
Once the monthly payment is calculated, we derive the Total Payment (M × n) and Total Interest (Total Payment − Principal).
Frequently Asked Questions
Our calculator uses the standard amortization formula used by most financial institutions. It provides highly accurate estimates for fixed-rate loans. However, actual loan terms may include additional fees or variable rates not accounted for here.
Yes! This calculator works for any fixed-rate installment loan including personal loans, auto loans, mortgages, student loans, and business loans. Just adjust the inputs to match your specific loan parameters.
No. This calculator shows principal and interest only. For mortgages, property taxes, homeowners insurance, and PMI (Private Mortgage Insurance) would be additional costs not reflected in these results.
Lenders may use slightly different rounding methods, include origination fees, or calculate interest on a daily basis. Always consult with your lender for exact payment amounts.
No. All calculations happen in your browser. We do not collect, store, or transmit any of your loan data. Your privacy is completely protected.
Explore More Financial Tools
WorldSeoTools offers a suite of free calculators and SEO tools to help you make better decisions. From mortgage calculators and debt payoff planners to SEO analyzers and keyword research tools, we have everything you need.
View All Finance Tools