Loan Calculator
Calculate monthly payments, total interest, and total cost for a fixed-rate personal, auto, or installment loan.
How to use this loan calculator
Use this loan calculator for personal loans, furniture financing, or any fixed installment note. If there is an origination fee financed into the loan, add it to principal so the payment and interest are not understated.
Formula
Worked example
Enter the amount borrowed, APR, and repayment term to see the full cost.
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Frequently asked questions
Is this loan calculator free?
Yes. It works instantly in your browser with no signup.
Are the results exact?
Results follow the stated formula, but real-world fees, timing, and rounding can vary.
How do you calculate a loan payment?
For a fixed-rate fully amortizing loan, monthly payment uses principal, monthly rate, and number of payments. This loan calculator shows payment, interest, and total paid.
What is amortization?
Each payment covers interest first, then principal. Early payments are interest-heavy; later payments retire more principal.
Can I use this for a personal loan?
Yes. Enter the amount, APR, and term the lender quoted. Origination fees should be added to principal if they are financed.
How can I pay less interest?
A lower rate, a shorter term, or extra principal payments. Compare totals here before you sign.
Results are estimates for informational purposes and are not financial, legal, or professional advice. Last reviewed 2026-08-20.