Loan calculator
See the monthly payment, the total repaid and how much of it is interest.
- Runs in your browser — nothing you enter is uploaded
- No sign-up, no quotas, free to use as often as you like
How it works
The advertised figure on a loan is the monthly payment, because it is the smallest and most reassuring number involved. The one that decides whether a loan is a good idea is the total interest, and it is rarely shown next to it. This shows both.
The calculation
Standard amortisation on a fixed rate: equal monthly payments, each one covering the interest accrued that month with the remainder reducing the balance. It is the same formula banks use for a repayment mortgage, a car loan or an EMI.
Why the term matters so much
Stretching a loan over more years lowers the monthly payment and raises the total interest, often sharply. Compare a few terms here before deciding — the monthly saving is usually small and the extra interest usually is not.
What this does not include
Arrangement fees, insurance, early-repayment charges and any rate that changes partway through. Real quotes include those, which is why an official APR is normally higher than the plain interest rate you type in here. Treat this as an estimate for comparison, not as an offer.
Currency
No currency is assumed — the figures are just numbers, so the result is the same whichever one you are borrowing in.
Loan calculator — questions
Does this include fees?
No. Arrangement fees, insurance and early-repayment charges are not included, which is why a real APR is usually higher than the plain rate.
Does it work for a mortgage or a car loan?
Yes. Any fixed-rate loan with equal monthly payments uses this same calculation.
Why does a longer term cost so much more?
You pay interest for longer on a balance that falls more slowly. The monthly saving is usually small and the extra total interest is usually large.
Is anything I enter sent anywhere?
No. The calculation runs in the page.