Loan Calculator

Calculate loan payments for any type of installment loan

Loan Details

Required Inputs

$

Optional Inputs

$

Loan Summary

Monthly Payment
$0
Total Interest
$0
Total Paid
$0
Payoff Date
-
Interest Saved (Extra Payments)
$0
Time Saved (Extra Payments)
0 months

Amortization Schedule

Payment # Date Payment Principal Interest Balance

Understanding Loans

How Loan Payments Work

Installment loans have fixed monthly payments that include both principal and interest. Early in the loan, most of your payment goes toward interest. Later, more goes toward principal.

APR vs Interest Rate

APR (Annual Percentage Rate) includes the interest rate plus fees and costs. It gives you a more accurate picture of the true cost of borrowing.

Benefits of Extra Payments