Loan Calculator
Calculate monthly payments for personal loans, auto loans, and student loans. Get instant payment estimates with detailed interest breakdown.
Annual Percentage Rate
Example: $20,000 loan at 6% for 5 years = $387/month
💡Money-Saving Tips
• Pay extra toward principal to save on interest
• Shorter terms = higher payments but less interest
• Shop around for best rates - even 0.5% matters
• Bi-weekly payments = 13 monthly payments/year
Enter loan details to see payment
Loan Types
• Personal Loans (5-15% APR)
• Auto Loans (3-10% APR)
• Student Loans (4-8% APR)
• Debt Consolidation (8-18% APR)
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✨ Key Features
Any Loan Type
Calculate payments for personal, auto, student, or any installment loan
Detailed Breakdown
See exactly how much goes to principal vs interest over time
Flexible Terms
Enter loan term in months or years - your choice
Payment Frequency
Choose monthly, bi-weekly, or weekly payment schedules
How to Use the Loan Calculator
Our loan calculator helps you estimate monthly payments for any type of installment loan. Enter your loan amount, interest rate (APR), and loan term to see your monthly payment, total interest, and complete payment breakdown.
Understanding Loan Payments
Loan Amount (Principal): The total amount you're borrowing from the lender.
Interest Rate (APR): Annual Percentage Rate - the yearly cost of borrowing expressed as a percentage.
Loan Term: How long you have to repay the loan, typically expressed in months or years.
Monthly Payment: Fixed amount you pay each month, covering both principal and interest.
Total Interest: The total cost of borrowing - what you pay beyond the principal amount.
Common Loan Scenarios
Personal Loan: $15,000 at 8% APR for 5 years = $304/month, $3,240 total interest
Auto Loan: $30,000 at 6% APR for 6 years = $497/month, $5,788 total interest
Student Loan: $40,000 at 5% APR for 10 years = $424/month, $10,910 total interest
Debt Consolidation: $25,000 at 10% APR for 4 years = $634/month, $5,425 total interest
Tips to Save Money on Loans
Shop Around: Compare rates from multiple lenders - even 0.5% difference saves thousands.
Improve Credit Score: Higher scores qualify for lower rates. Pay bills on time and reduce debt.
Make Extra Payments: Pay more than the minimum to reduce principal and save on interest.
Choose Shorter Terms: Higher monthly payments but much lower total interest paid.
Avoid Fees: Watch out for origination fees, prepayment penalties, and late payment fees.