Loan Calculator
Calculate monthly payment and interest
Loan Details
FAQ
What's the difference between equal payment and equal principal?
Equal payment (annuity) keeps the monthly amount constant, easy to budget. Equal principal repays the same principal each month with interest on the balance, so payments start high and decrease. Equal principal costs less total interest.
How do I enter the interest rate?
Enter the annual rate as a percent. For 4.5%, enter 4.5. The tool converts it to a monthly rate automatically.
Will this match my actual loan?
Not exactly. This is a simple calculation that excludes prepayment fees, insurance, variable rates, and grace periods. Confirm actual terms with your lender.
Is my data saved?
No. All calculation happens in your browser; inputs are never stored or transmitted.
Advertisement (AdSense)