Money & Finance · Free tool
Loan Calculator
Work out monthly payments and total interest on any loan. Enter amount, rate, and term — get a clear breakdown in seconds.
Monthly payment
$500.95
Total paid
$30,056.92
Total interest
$5,056.92
What it does
A free loan calculator that computes your monthly payment, total paid over the life of the loan, and total interest cost. Enter principal, APR, and term (years); everything updates live. Uses the standard amortization formula — same as any bank calculator.
Before signing any loan agreement, know the full cost. A $20,000 loan at 7% for 5 years costs $3,761 in interest; the same loan stretched to 7 years costs $5,371. Longer terms = lower monthly payment and more total interest. Our debt payoff guide explains strategies to minimize this.
How to use it
- Enter the loan principal (amount borrowed).
- Enter the annual interest rate (APR).
- Enter the loan term in years.
- Read your monthly payment, total cost, and total interest.