Loan Calculator
Calculate your monthly payments and total loan cost
Loan Summary
Monthly Payment
Principal Amount
Total Interest
Total Amount Paid
Amortization Schedule
| Month | Payment | Principal | Interest | Balance |
|---|
What is a Loan Calculator?
A loan calculator helps you determine your monthly payment amount based on the loan amount, interest rate, and term. It also shows you how much interest you'll pay over the life of the loan and provides a detailed amortization schedule.
Loan Tips
- 💡 Lower interest rates save thousands over the loan term
- 💡 Shorter terms mean higher monthly payments but less total interest
- 💡 Making extra payments reduces total interest significantly
- 💡 Compare different scenarios to find the best option
Common Loan Types
🏠
Mortgage
Home loans typically 15-30 years
🚗
Auto Loan
Car loans typically 3-7 years
💰
Personal Loan
Unsecured loans 1-7 years
🎓
Student Loan
Education loans with various terms