Loan Calculator: monthly payment and amortization
Free online loan calculator. Compute your monthly payment, total interest, and a full amortization schedule for any loan — personal, auto, or student — across 12 currencies, entirely in your browser.
What you'll use this for
Auto loans
Estimate the monthly cost of a 4–6 year car loan.
Student loans
See total cost of a federal or private student loan.
Personal loans
Compare a credit-union loan against a credit-card balance.
Family loans
Set up a fair amortizing payment plan with friends or family.
How to use the loan calculator
Enter loan amount, rate, and term
Years can be fractional — quarter-year increments.
Read the result
Monthly payment plus the total cost of borrowing.
Inspect the schedule
Year-by-year principal vs interest breakdown.
Frequently asked questions
No — origination fees, late fees, and other servicer charges aren’t modeled. Use the result for principal-and-interest planning only.
Use a decimal: 1.5 = 18 months, 2.25 = 27 months, etc.
Standard amortization formula: payment = P × r / (1 − (1+r)⁻ⁿ).
No. Pure JavaScript in your browser.
About loan amortization
An amortizing loan has a fixed monthly payment that gradually shifts from "mostly interest" at the start to "mostly principal" at the end. The total interest you pay depends on the rate and the term — longer terms mean smaller payments but more interest overall.
The formula
M = P × r × (1+r)ⁿ / ((1+r)ⁿ − 1)
P = loan amount, r = annual rate / 12, n = monthsLender-specific differences
Real lenders may apply fees up-front, round payments, or use a 360-day year for interest. Treat this calculator as a "true rate" estimator that’s accurate to within a few dollars per month for typical consumer loans.