Loan Calculator
Enter a loan amount, rate, and term greater than 0.
| Month | Payment | Principal | Interest | Balance |
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Calculate your monthly loan payment, total interest, and full amortization schedule instantly — no Calculate button, and see how extra payments cut your interest.
How it works
- Enter the loan amount, annual interest rate, and term in months
- Your monthly payment, total interest, and total paid update live as you type
- Add an optional extra monthly payment to see the interest and time you'd save
- Toggle the amortization schedule to see every month's principal/interest split, or download it as CSV
Frequently asked questions
What is amortization?
Amortization is paying off a loan in equal periodic payments, where each payment covers that month's interest first and the rest reduces the principal — so the interest portion shrinks and the principal portion grows over the life of the loan.
How is total interest calculated?
Total interest is the sum of every month's interest charge, which equals (monthly payment × number of months) minus the original loan amount.
How much can I save by paying extra each month?
Enter an amount in the "Extra monthly payment" field — the calculator recalculates the payoff schedule with that extra principal applied every month and shows both the interest saved and how many months sooner the loan is paid off.
Does this replace official loan disclosures like APR?
No. This tool estimates payments from principal, rate, and term using the standard amortization formula. Actual APR disclosures (which include fees) vary by country and lender — check your loan documents for the official figure.
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Update history
- 2026-08-30 Added: a cover image — used as the card thumbnail, social share image, and blog title image.
- 2026-08-29 Launched: live monthly-payment calculator (no Calculate button), extra-payment field showing interest saved and months shaved off, inline amortization schedule toggle, CSV download.