Loan Calculator
Work out the monthly payment for any fixed-rate loan — personal, student, business or anything else — from the amount, interest rate and term.
36 monthly payments
$470.05
Monthly payment
$1921.64
Total interest
$16921.64
Total repayment
This is an estimate for a standard fixed-rate, fully-amortizing loan. Actual offers vary by lender and may include origination fees or other costs not modeled here.
Amortization summary (by year)
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $4607.04 | $1033.51 | $10392.96 |
| 2 | $4989.42 | $651.12 | $5403.54 |
| 3 | $5403.54 | $237.01 | $0.00 |
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How to use loan calculator
- 1Enter the loan amount you're borrowing.
- 2Enter the annual interest rate and the loan term in years or months.
- 3Read the monthly payment, total interest and total repayment.
- 4Check the amortization summary to see how the balance declines year by year.
About this tool
This is a general-purpose version of the same fixed-rate amortization math behind the Mortgage and Car Loan calculators, for any loan that doesn't fit those two more specific tools — personal loans, student loans, business loans or anything else with a fixed rate and a fixed term.
Every payment is split into interest (charged on the outstanding balance) and principal (which reduces it), following the standard fully-amortizing loan formula. The amortization summary collapses the monthly schedule into yearly totals so you can see the balance shrink over the life of the loan without scrolling through hundreds of rows.
Real loan offers often include origination fees, discount points or a variable rate that changes over time — none of which are modeled here. Treat the result as a planning estimate, not a guaranteed offer.
Frequently asked questions
Any loan with a fixed interest rate, fixed term and equal monthly payments — personal loans, student loans, business loans and similar. For a mortgage or auto loan specifically, the dedicated Mortgage and Car Loan calculators add fields relevant to those (like property tax or trade-in value).
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