Loan Calculator

Loan Calculator is a free online tool that helps you estimate monthly payments, total interest costs, and the full amortization schedule for any fixed-rate loan. Whether you are planning a mortgage, an auto loan, a student loan, or a personal loan, understanding the true cost of borrowing is essential for making informed financial decisions. This calculator breaks down every payment into its principal and interest components, so you can see exactly where your money goes each month. Fixed-rate loans are the most common type of consumer loan. With a fixed rate, your monthly payment amount stays the same throughout the loan term, though the proportion allocated to principal versus interest shifts over time. In the early months, most of your payment goes toward interest. As the loan matures, a larger share goes toward reducing the principal balance. This pattern is clearly visible in the amortization schedule, which shows the breakdown for every single payment period. Understanding amortization is crucial for strategies like making extra payments to pay off a loan early and save on interest. Even small additional payments toward the principal in the early years can significantly reduce the total interest paid over the life of the loan. Use this calculator to experiment with different loan amounts, interest rates, and terms to find the combination that best fits your budget. All calculations run entirely in your browser — no financial data is sent to any server.