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Loan Calculator
Work out the monthly payment, total interest and total cost of a loan before you borrow.
Loan repayment
Monthly payment: —
Total interest: —
Total paid: —
First payment: —
How to use the Loan Calculator
- Enter the amount you want to borrow.
- Add the annual interest rate and the term in years.
- The monthly payment, total interest and amortisation summary appear instantly.
Features
- Monthly payment from amount, rate and term
- Total interest and total amount paid
- Year by year amortisation summary
- Live recalculation as you type
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Frequently Asked Questions
Common questions about the free online loan calculator.
The tool uses the standard amortisation formula, which spreads the amount borrowed plus
interest into equal monthly payments across the term.
Total interest is everything you pay above the amount borrowed. It is the monthly payment
multiplied by the number of payments, minus the loan amount.
A higher annual rate increases both the monthly payment and the total interest, even when the
term stays the same.
A longer term lowers the monthly payment but raises the total interest, because you borrow
the money for longer.
The rate you enter is an annual percentage rate. The tool divides it by twelve to obtain the
monthly rate.
It shows, for each year of the loan, how much of your payments went to interest, how much
reduced the balance, and the balance remaining.
No. Only principal and interest are calculated, so add arrangement fees or insurance
separately.
No, the calculation runs entirely in your browser.
Yes. It is completely free and unlimited, with no account, no sign-up and no usage caps.
Last updated: October 10, 2026