Loan Calculator
Work out monthly payments, total interest and the full repayment schedule.
Estimate payments for a fixed-rate auto, personal or student loan.
Monthly payment
$500.95
Total interest
$5,056.92
Total repaid
$30,056.92
Paid off in
5y 1m
Balance each year
| Year | Remaining balance | Interest paid so far |
|---|---|---|
| 1 | $20,718.42 | $1,729.81 |
| 2 | $16,104.46 | $3,127.22 |
| 3 | $11,132.29 | $4,166.45 |
| 4 | $5,774.13 | $4,819.67 |
| 5 | $0.00 | $5,056.92 |
| 6 | $0.00 | $5,056.92 |
How to use Loan Calculator
- 01Enter the amount borrowed, the annual interest rate and the term in years.
- 02Read your monthly payment and the total interest you will pay over the term.
- 03Open the schedule to see how each payment splits between interest and principal.
About Loan Calculator
A repayment loan uses the same payment every month, but the split changes: early payments are mostly interest because the balance is high, and later ones are mostly principal. That is why overpaying early saves disproportionately more interest.
Total cost is the part people underestimate. Extending an auto, personal or student loan lowers the monthly payment but adds interest — the schedule here shows both numbers side by side so the trade-off is visible.
Frequently asked questions
- Which loans can I calculate?
- Any standard fixed-rate installment loan, including auto, personal and student loans.
- What does an amortization schedule show?
- Each payment broken into interest, principal and the remaining balance.
- Can I model overpayments?
- Yes, add a monthly overpayment to see how much interest and time it saves.
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