Loan Calculator
Estimate monthly payments, total interest and cost.
About the Loan Calculator
The Loan Calculator estimates the monthly payment on a fixed-rate loan or mortgage, along with the total interest you will pay and the total amount repaid over the life of the loan. Enter the amount you want to borrow, the annual interest rate and the term in years, and it applies the standard amortisation formula to break the cost down clearly. It works for car loans, personal loans, student loans and home mortgages.
How to use it
- Enter the loan amount you want to borrow.
- Enter the annual interest rate and the term in years.
- Read your estimated monthly payment, total interest and total cost.
Frequently asked questions
How is the monthly payment calculated?
It uses the standard amortisation formula: M = P·i·(1+i)ⁿ ÷ ((1+i)ⁿ − 1), where P is the principal, i is the monthly interest rate and n is the number of monthly payments.
Does it include fees or taxes?
No. The result is the principal-and-interest payment only. Real loans may add origination fees, insurance, property taxes or other charges, so treat the figure as an estimate.
Can I use it for a mortgage?
Yes. Enter the mortgage amount, annual rate and term (for example 25 or 30 years) to estimate the monthly principal-and-interest payment.
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