Loan Calculator — Free Online Tool
Work out payments, total interest and payoff time for any loan. · No signup · Works on mobile
100% private: your data is processed in your browser. Nothing is uploaded to our servers.
How to use the loan calculator
-
1
Enter the loan amount you plan to borrow.
-
2
Add the annual interest rate (APR) quoted by your lender and the term in years or months.
-
3
Review the monthly payment, total interest, and amortization schedule.
What does this tool do?
This free loan calculator works for any loan type — personal, auto, home, or student. Enter the amount you want to borrow, the annual interest rate, and the repayment term to instantly see your monthly payment, total interest cost, and total amount repaid over the life of the loan.
How does the loan calculator work?
The tool applies the standard amortization formula to split each payment into principal and interest. Early payments are interest-heavy; later payments repay mostly principal. The full schedule is computed in your browser the moment you change any input.
Frequently Asked Questions
What is APR and why does it matter?
APR (Annual Percentage Rate) is the yearly cost of your loan including interest and mandatory fees, which makes it the best number for comparing lenders. A loan advertised at 8% interest with 2% upfront fees typically has an APR closer to 8.5% — always compare APRs, not headline rates.
How can I pay less total interest on a loan?
Three proven ways: choose a shorter term (a 3-year vs 5-year $20,000 loan at 9% saves about $2,050 in interest), make extra principal payments early when interest dominates, or refinance when rates drop at least 0.75–1 percentage point below your current rate.
Is the loan calculator really free?
Yes — 100% free with no hidden charges, trial limits, or premium tiers for core features. You don't need to create an account or enter an email address. The site is supported by non-intrusive display ads, which keeps every tool free for everyone.
Is my data private when using the loan calculator?
Completely. The loan calculator runs entirely in your browser using JavaScript — nothing you type or upload is sent to our servers. When you close the tab, your data is gone. This makes it safe for confidential documents, financial figures, and personal information.
Does the loan calculator work on mobile phones?
Yes. The loan calculator is built mobile-first and works on any phone or tablet with a modern browser — iPhone (Safari), Android (Chrome), and everything in between. The layout adapts to small screens, so buttons and inputs stay easy to tap on a 375px-wide display.
Do I need to install anything to use the loan calculator?
No. The loan calculator works directly in your web browser — no downloads, no extensions, no signup. Just open the page, use the tool, and get your result instantly. It works on Windows, macOS, Linux, ChromeOS, iOS, and Android.