Loan Calculator
Calculate monthly payments, total interest, and amortization schedules.
About Loan Calculations
A loan calculator helps you understand the true cost of borrowing. By entering the principal amount, interest rate, and loan term, you can instantly see your monthly payments, total interest, and full repayment amount. The two most common repayment methods are Equal Installments (where monthly payments remain constant) and Equal Principal (where the principal portion stays fixed while total payments decrease). Understanding these differences can save thousands over the life of a loan. All calculations run entirely in your browser — no data is sent to any server.
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Frequently Asked Questions
What is the difference between Equal Installments and Equal Principal?▾
Equal Installments (amortized) means your monthly payment stays the same throughout the loan. Equal Principal means you pay the same principal amount each month, but total payment decreases over time as interest reduces.
How is the monthly payment calculated?▾
For equal installments, we use the PMT formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal, r is monthly rate, and n is total months. For equal principal, monthly principal = P/n, and interest is calculated on remaining balance.
Is this calculator accurate for real loans?▾
This calculator provides accurate estimates based on standard amortization formulas. Actual loan terms may vary due to fees, insurance, variable rates, and lender-specific policies. Always consult your financial institution for exact figures.