💳 Loan Calculator

Calculate your monthly loan payment, total interest, and full amortisation schedule. Works for personal loans, mortgages, car loans, and any fixed-rate loan. All calculations in your browser.

Calculator✓ 100% Free✓ Amortisation Table✓ No Signup

Loan Details

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Amortisation Schedule

How to Use

1
Enter your loan details

Input the loan amount, annual interest rate, and loan term in years or months.

2
View your results instantly

Monthly payment, total interest, and total cost appear automatically.

3
See the full amortisation schedule

Click "Show / Hide" to view a month-by-month breakdown of principal and interest payments.

Frequently Asked Questions

How is the monthly payment calculated?
The monthly payment formula for a fixed-rate loan is: M = P × (r(1+r)^n) / ((1+r)^n - 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments.
What is an amortisation schedule?
An amortisation schedule shows every monthly payment broken down into principal (the amount reducing your debt) and interest (the cost of borrowing). In the early months, most of each payment is interest. As the loan progresses, more goes toward principal.
How does an extra monthly payment help?
Making extra payments reduces the loan principal faster, which reduces the interest charged each subsequent month. Even a small extra payment can shorten the loan term significantly and save substantial interest over the loan life.
Does this work for mortgages?
Yes. Enter the mortgage amount, your interest rate, and the term (typically 25 or 30 years). The calculator handles any loan amount and term. Note that actual mortgage payments may include additional costs like property tax and insurance (PITI) not included in this calculator.
Is my financial data stored?
No. All calculations happen entirely in your browser. No data is transmitted to any server.

About This Tool

This loan calculator uses the standard fixed-rate amortisation formula used by banks and lenders worldwide. The formula calculates a constant monthly payment that pays off both the principal and accrued interest in equal instalments over the loan term. The amortisation schedule breaks each payment into its principal and interest components — early payments are mostly interest because the outstanding balance is highest; later payments are mostly principal as the balance decreases. The extra payment feature shows how additional monthly contributions accelerate payoff and reduce total interest cost.

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