Loan Calculator
Calculate estimated monthly loan payments, total interest, and total repayment using this free online loan calculator.
How the Loan Calculator Works
This calculator estimates payments for a standard fixed-rate loan with regular monthly payments.
The calculation uses the loan amount, annual interest rate, and loan term to estimate the monthly payment.
Loan Payment Formula
For a standard amortizing loan, the monthly payment is calculated using:
M = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- M = monthly payment
- P = loan principal
- r = monthly interest rate
- n = total number of monthly payments
Example
Suppose you borrow 100,000 at an annual interest rate of 10% for 5 years. The calculator estimates the monthly payment and the total amount paid over the loan term.
Important Information
Actual loan payments may differ because lenders can include fees, taxes, insurance, different interest calculations, or other charges. Always check the official loan agreement and lender’s terms before making a financial decision.
More HappyClicks Calculators
Visit our Calculators page for more free calculation tools.
You can also use our Percentage Calculator and Discount Calculator .