Loan calculator
Calculate monthly loan payments and total interest
Calculate
Results
Enter values and click Calculate to see results
Understanding the Loan calculator
Our free online tool helps you calculate monthly loan payments and total interest quickly and accurately.
Formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
How it works:
This calculator uses the standard amortization formula to determine your monthly payment. It takes the principal amount, divides the annual interest rate by 12, and calculates the payment over the total number of months in the loan term.
Loan calculator examples and use cases
Compare fixed-rate and reducing-rate loan offers before choosing a lender.
Estimate monthly repayment for a personal loan or business loan.
Review the EMI table to see principal and interest month by month.
Related calculators
FAQs
How do I use the Loan calculator?
Enter the values requested in the form and click Calculate. The tool works without login and shows results immediately.
What is the Loan calculator used for?
It helps you calculate monthly loan payments and total interest for planning, comparison, and quick estimates.
How does this calculator work?
This calculator uses the standard amortization formula to determine your monthly payment. It takes the principal amount, divides the annual interest rate by 12, and calculates the payment over the total number of months in the loan term.
Are CalculatorBest calculators free?
Yes. CalculatorBest calculators are free online tools and do not require an account.