Free Loan Calculator — Payment, Interest & Amortization

Everything You Need in One Loan Calculator

Unlike basic calculators that only show monthly payments, this tool gives you the complete picture: monthly payment, total interest over the life of the loan, total repayment amount, and your exact payoff date. A color-coded pie chart breaks down principal versus interest, and an interactive amortization table shows every single payment from month one to payoff.

Interactive Input Controls

Adjust loan amount with preset buttons (5K, 10K, 50K, 100K, 200K, 500K) for quick scenario testing. The interest rate slider ranges from 1% to 20% and syncs bidirectionally with the number input — drag the slider or type a value, either works. Set your loan term in years and months (e.g., 30 years 0 months, or 15 years 6 months) for precise calculation. Switch between USD, EUR, GBP, JPY, and CNY with the currency selector.

Principal vs Interest Pie Chart

The pie chart gives you an instant visual understanding of your loan cost. The green slice represents principal (the money you borrowed), and the red slice represents total interest (the cost of borrowing). Seeing a 30-year mortgage with 60% interest and 40% principal makes the true cost of long-term borrowing immediately obvious. This visualization is especially powerful when comparing different loan terms side by side.

Full Amortization Schedule with CSV Export

Scroll through every single payment in the amortization table. Each row shows the payment number, monthly payment amount, how much goes to principal, how much goes to interest, and the remaining balance. The table is fully scrollable with sticky headers. Export the entire schedule to CSV with one click — open it in Excel, Google Sheets, or Numbers for further analysis.

Extra Payment Calculator

See exactly how much time and money you save by making extra payments. Enter any additional monthly amount — even $100/month extra on a 30-year mortgage can save years of payments and tens of thousands in interest. The calculator instantly shows how many months earlier you'll pay off the loan and approximately how much interest you'll save. This is the feature that turns a simple calculator into a financial planning tool.

How the Loan Formula Works

The calculator uses the standard amortization formula: M = P × r × (1+r)^n / ((1+r)^n − 1), where M is the monthly payment, P is the principal (loan amount), r is the monthly interest rate (annual rate divided by 12), and n is the total number of payments (years × 12). This formula ensures that every payment is exactly the same amount and that the loan is fully paid off by the end of the term. Early in the loan, most of each payment goes to interest. Over time, the principal portion increases and interest decreases — this is clearly visible in the amortization table.

Practical Loan Scenarios

• $200,000 mortgage at 6% for 30 years: Monthly payment ~$1,199. Total interest: $231,676. Adding $200/month extra saves ~7 years and ~$62,000 in interest.
• $30,000 car loan at 5% for 5 years: Monthly payment ~$566. Total interest: $3,968. A shorter term means less interest but higher monthly payments.
• $10,000 personal loan at 8% for 3 years: Monthly payment ~$313. Total interest: $1,281. Compare this to a 5-year term: lower payments (~$203) but higher total interest ($2,166).

Frequently Asked Questions

What's the difference between APR and interest rate?
APR includes fees and other costs in addition to the base interest rate. Our calculator uses the base interest rate. For a more accurate total cost estimate, add 0.5-1% to account for fees.

Fixed vs variable rate?
This calculator assumes a fixed interest rate. For variable-rate loans, calculate with the current rate but be aware your payment may change over time.

Can I use this for mortgage calculations?
Yes — the calculator works for any amortized loan: mortgages, car loans, personal loans, student loans, and business loans.

Are my financial details private?
Absolutely. All calculations run in your browser. No data is ever sent to any server.