Loan Calculator
Estimate a fixed-rate monthly loan payment, total repayment, and total interest with transparent inputs.
Estimate a fixed-rate loan
Enter the principal, annual percentage rate, and number of monthly payments. The calculator estimates a fixed-rate monthly payment, total repayment, and total interest. Results are planning estimates, not a lender quote, because fees, taxes, insurance, payment timing, and rate changes may be excluded.
Monthly payment formula
For principal P, monthly rate r, and number of payments n, the fixed payment is M = P multiplied by r times (1+r) to the power n, divided by ((1+r) to the power n minus 1). When the rate is zero, the principal is divided evenly across the payments.
Worked example
A principal of 12000 at 6 percent annual interest over 24 months uses a monthly rate of 0.06 divided by 12. Compare the displayed payment with the total repayment and interest, then confirm the assumptions with the lender before making a decision.
Frequently asked questions
Frequently Asked Questions About Online Calculators
Does this include taxes and fees?
No. Add-on costs depend on the loan and lender and should be checked separately.
Can I compare two loans?
Yes. Run separate scenarios and keep the principal, rate, term, and payment frequency consistent.
Is the result financial advice?
No. It is an educational estimate for comparing assumptions.