Loan Calculator

A loan calculator helps you estimate monthly payments and total interest for a fixed-rate loan. It is useful for comparing offers, understanding affordability, and planning your payoff timeline. Whether you are evaluating a personal loan, auto loan, or another amortized product, the same basic math applies: principal, interest rate, and term determine the payment.

This calculator gives you a monthly payment estimate and a rough sense of total interest over the life of the loan. It assumes a fixed rate and standard amortization, which is common for installment loans. If your loan has a variable rate, balloon payment, or special fee structure, the actual cost may differ. Use the result for planning and comparisons rather than exact pricing.

You can use the tool to answer questions like: What monthly payment fits my budget? How much interest do I pay if I choose a 3-year term instead of 5 years? What happens if I increase the loan amount or negotiate a lower rate? By testing a few scenarios, you can see the trade-offs between monthly payment and total interest.

Remember that monthly payment is only one part of the decision. If a lower payment comes from a longer term, it may cost more overall. A shorter term can increase the monthly payment but reduce total interest. Use the calculator to explore these trade-offs before you commit.