Loan Calculator
General loan amortization: fixed-payment or straight-line methods, term in years or months, optional start date, schedule and CSV export.
Estimates only — check your loan contract.
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $35,965.08 | $31,684.64 | $4,280.43 | $68,315.36 |
| 2 | $35,965.08 | $33,305.69 | $2,659.39 | $35,009.67 |
| 3 | $35,965.08 | $35,009.67 | $955.41 | $0.00 |
What is Loan Calculator
A general-purpose loan calculator: enter amount, APR and term in years or months to get the monthly payment, total interest and payoff date. Optional start date shows exactly when the last payment lands, with a full amortization table.
How to use Loan Calculator
- Choose fixed-payment or straight-line (equal principal) amortization
- Enter the amount, interest rate and term in years or months
- Optionally set a start date, then review totals and the schedule
Frequently asked questions
How is a loan payment calculated?
M = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1) with P the principal, r the monthly rate and n the payment count. Straight-line loans instead repay P÷n of principal each month plus interest on the remaining balance.
Does a longer term always cost more?
A longer term lowers the monthly payment but raises total interest: $10,000 at 5% costs about $790 in interest over 3 years versus about $1,320 over 5 years.
What is the difference between the two repayment modes?
Fixed-payment keeps each monthly amount constant (early payments are mostly interest); straight-line repays equal principal each month, so payments start higher and shrink — total interest is lower.
Is Loan Calculator free?
Loan Calculator is completely free — open the page and use every feature with no hidden charges.
Do I need to download or install Loan Calculator?
No download or installation is needed. It is an online tool that runs in the browser on your phone, tablet and computer.
Do I need an account to use Loan Calculator?
No. Use the tool right away — no account or sign-in required.
Does Loan Calculator work on mobile?
Yes. The page is fully responsive and works on phones, tablets and desktop browsers.