Loan Calculator - Monthly Payment & Amortization Online
Calculate monthly loan payments, total interest, and view a full amortization schedule. Works for mortgages, car loans, and personal loans. Free online loan calculator.
Enter loan details above to calculate payments.
What is Loan Calculator?
Loan Calculator is a free online tool that computes your monthly payment, total payment, and total interest for any loan. Enter the loan amount, annual interest rate, and term to get instant results. It also generates a full amortization schedule showing how each payment is split between principal and interest.
How to Use Loan Calculator
- Enter the loan amount
- Enter the annual interest rate
- Set the loan term in years or months
- View monthly payment, total cost, and amortization schedule
Loan Calculator Features
- Monthly payment using standard amortization formula
- Total payment and total interest summary
- Full amortization schedule (principal + interest per month)
- Works for mortgages, car loans, personal loans
- Instant calculation, no server required
Loan Calculator FAQ
What formula is used?
The standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is principal, r is monthly rate, and n is number of payments.
Does this include taxes and insurance?
No. This calculator covers principal and interest only. For mortgages, add property tax, homeowner's insurance, and PMI separately.
Can I use it for 0% interest loans?
Yes. Enter 0 for the interest rate and the monthly payment will simply be the loan amount divided by the number of months.