Loan Calculator
A loan is a contract between a borrower and a lender in which the borrower receives an amount of money (principal) that they are obligated to pay back in the future. Most loans can be categorized into one of three categories: Amortized Loan, Deferred Payment Loan, or Bond.
$
years
months
%
Results
| Payment Every Month | $1,110.21 |
| Total of 120 Payments | $133,224.60 |
| Total Interest | $33,224.60 |
Principal (75%)
Interest (25%)
| Period | Payment | Principal | Interest | Balance |
|---|
$
years
months
%
Results
| Amount Due at Loan Maturity | $179,084.77 |
| Total Interest | $79,084.77 |
Principal (56%)
Interest (44%)
| Year | Accrued Interest | Balance |
|---|
$
years
months
%
Results
| Present Value (Amount Needed Now) | $55,839.48 |
| Total Interest | $44,160.52 |
| Face Value (Amount at Maturity) | $100,000.00 |
Present Value (56%)
Interest (44%)
| Year | Accrued Interest | Value |
|---|
Amortized Loan: Paying Back a Fixed Amount Periodically
Use the Amortized Loan calculator for basic calculations of common loan types such as mortgages, auto loans, student loans, or personal loans. This type of loan has fixed payments paid periodically until loan maturity.
Deferred Payment Loan: Single Lump Sum Due at Loan Maturity
Many commercial loans or short-term loans fall into this category. Unlike amortized loans, deferred payment loans have a single lump sum (including all principal and interest) due at loan maturity.
Bond: Predetermined Amount Due at Loan Maturity
This calculator can be used to compute the initial value of a bond/loan based on a predetermined face value to be paid back at bond/loan maturity.
It is important to know how much it will cost to repay loans in totality when borrowing to settle debts, education or even to make a big purchase. A loan is an agreement in which a borrower is given a specific amount (principal) but he or she has to give it back within stipulated conditions. To avoid any financial hassles, the cost of loaning out in the long term must be known. By using a loan calculator, it is possible to make informed decisions when deciding to take any loan by determining the monthly payments, the interest rates and the amount he or she will be borrowing.
The financial part of the loans can be calculated with the help of our Loan Calculator that will ensure that the payments will be affordable to you. It approximates monthly payments, total interest, and time of repaying different loans including mortgages, auto loans, personal loans and debt consolidation loans.
How It Works:
To begin, type the following information into the calculator:- Loan Amount: The amount of money that you want to borrow.
- Interest Rate: The percent rate that the lender will be charging you. Whether you are calculating your home loan, your car loan or your personal loan, this calculator will enable you to know how much you will pay monthly, the interest rates, and the total amount of the loan.
- Loan Term: This is the term of the loan in months or years.
How the Calculation Works:
- Inputs: You will be required to enter the amount of the loan, interest rate (APR), and the term period (e.g., 30 years in the case of a mortgage, 60 months in the case of a car loan).
- Amortization Schedule: The calculator breaks down each payment. Early payments have higher interest, while later payments go more toward the principal.
- Result: It gives the amount of payment per month, the amount of interest paid and the overall expense of the loan (principal + interest + fees). Bankrate
Key Features:
- Compare Loan Scenarios: Using a home loan calculator, car loan payment calculator or loan payment calculator, this tool will let you experiment with different interest rates and loan terms to determine their impacts on your monthly payments. An illustration of this is that a shorter loan term may mean more payments per month but a faster payoff, whereas a longer term may mean a reduction in your monthly payments but a greater payoff of interest over time.
- Amortization Table: See how your debt will reduce every month. Most of your payments would be in interest, as compared to when they would begin paying off the principal.
- Extra Payments: You can also test the idea of making additional payments to pay off your loan quicker. Regardless of whether you are paying monthly, annually or once, by adding extra cash to your loan, you could save yourself some additional interest and cut the time it will take to repay your loan.
- Loan Amount Comparison: The calculator can also help you compare different loan amounts. For example, it can show you the effect of adding extra money to your loan or changing the sales price of a car before negotiations begin.
Practical Uses:
- Mortgage Refinancing: Learn how closing costs can or cannot affect your payments on the mortgage. A home loan calculator may also help you to know your new monthly payment after refinancing. A car loan calculator would be ideal for all car buyers who want to know how expensive the car would be.
- Car Loan: Find out how much money you can spend on the loan, according to your budget, and then negotiate with a dealership.
- Debt Consolidation: This involves the calculation of a term that enables you to combine more than one debt without having to strain your monthly payment.
Additional Insights:
The loan calculator helps the user to think about how the various interest rates will affect the loan costs. The interest rate on an average personal loan in the U.S. was about 12.26, and the average personal loan debt per borrower was about 11,724 towards the end of 2025. bankrate A borrower that has a high credit score may be charged a low interest rate as compared to a borrower that has a low credit score and this would have an effect on the amount that a loan repayment will have at the end of the life of the loan. wallethubFind the Right Loan for You
To find the appropriate loans, look at reputable lenders depending on affordability, eligibility, and ratings of customer service. Check your credit score and report before you go shopping, good credit can lead to lower interest rates and better loan facilities. The debt to income ratio also should be maintained low. It is also important to keep the debt-to-income ratio low. Prepare a monthly budget of payment and look at secured loans at lower rates but subject to loss of collateral. Shop around among several lenders and consider prequalification in order to estimate rates without a hard credit pull, as actual loan applications may lead to hard credit pulls and potentially offer different terms.Next steps for loans
Ready to move forward on your loan journey? Continue with these helpful guides and tips:- Start shopping for personal loans.
- Learn about what your lending options are and where to start.
- Improve your credit score to potentially improve your loan terms.
- Browse different lenders and compare offers. Review expertly vetted content to compare in-depth information about lending partners.