Use our free Loan Calculator to estimate your monthly payments, total interest, and loan cost. Perfect for personal, car, or home loans.

What Is a Loan Calculator, And How Does it Work?
This loan calculator is intended to assist you to calculate your loan and provide you with an estimation based on the interest rates and the loan amount. It is commonly used among consumers looking for a personal, auto or home loan, and by financial advisers and lenders.

The majority of loan calculators request the loan amount, annual interest rate and return period (months or years). The calculator will compute the monthly payment, interest paid, and total cost of the loan. A few of the more elite calculators also have added features that will allow for additional costs, such as fees, plus taxes, or a deposit in advance.

Loan calculator estimates — while a loan calculator will give you a good idea, keep in mind that loan terms can be impacted by lender policies, your credit score and hidden fees. So, the tool should be thought of as a planning aid, not a literal number.

Loan calculators are readily available online and frequently provide additional capabilities, such as amortization schedules, interest comparison charts, and budget assistance. Whether it’s student loans, a car loan, or a home loan, a loan calculator is a quick and easy way to understand the cost of your borrowing and keep on top of your finances.