What is Loan Calculator?
Estimate the monthly payment and total interest for a fixed-rate installment loan. Fees and variable rates are not included.
Enter the principal, annual interest rate and term. The monthly payment uses the standard fixed-rate amortization formula.
How to use this tool
- 1
Enter the principal amount, annual fixed interest rate and term in months.
- 2
The calculator updates the estimated monthly payment automatically.
- 3
Review estimated total interest and total repayments alongside the payment.
Features
- Monthly payment estimate
- Total repayment and interest
- Local calculation without storing inputs
Example
A $10,000 loan at 6% APR for 36 months has an estimated payment of about $304.22.
Payment = P × r ÷ (1 − (1 + r)⁻ⁿ)Frequently asked questions
Does this include fees or taxes?+
No. The estimate uses principal and a fixed annual interest rate only; lender fees, insurance and taxes are excluded.
What if the interest rate is zero?+
The payment is principal divided evenly across the number of monthly payments.
About this loan calculator
Loan Calculator is part of itotii’s free collection of browser-based utilities. It is designed for a quick workflow: find the tool, complete the task and keep control of your files and data.
Output depends on your input and browser support. Review the result before using it in a published or important document.