Loan Repayment Calculator
Calculate monthly payments, total interest and full repayment schedule for any personal loan, car loan or credit. Works for any currency worldwide.
Changing currency changes the unit and formatting only; it does not convert the amounts.
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About This Tool
What it does
Calculates monthly loan repayments, total cost of borrowing, total interest charged and a full month-by-month repayment schedule for personal loans, car loans, student loans and business loans.
Who it's for
Anyone comparing loan offers, budgeting for a new loan, or checking the total cost of borrowing before signing. Used in the UK, US, Canada, Australia, UAE, Singapore and worldwide.
Your privacy
All calculations happen in your browser. No financial figures are transmitted to any server or stored anywhere. Completely private.
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Frequently Asked Questions
How is the monthly loan payment estimated?
Enter the amount borrowed, annual rate and term. The calculator estimates equal end-of-month payments for a fixed-rate, fully amortising loan and shows the payment, total repaid, interest and a monthly schedule.
What is the difference between an interest rate and APR?
The interest rate is the rate used to accrue interest on the balance. APR can also reflect mandatory fees and other borrowing costs. This calculator uses the entered percentage as the rate in its payment formula and does not separately add fees.
What happens at a zero interest rate?
At 0%, the amount borrowed is divided equally by the number of months. Total interest is zero and total repaid equals the principal.
Which loans does this calculator model?
It models conventional fixed-rate loans repaid by equal monthly instalments. It does not model variable rates, balloon payments, income-contingent student loans, interest-only periods, fees or payment holidays.
How does the term unit work?
Years are converted to months by multiplying by 12. Decimal years are accepted only when they convert to a whole number of months, such as 1.5 years = 18 months. A term entered in months must be a whole number.
Does this calculator model overpayments?
No. The schedule assumes the same contractual payment every month. Mid-term overpayments can change the payoff date, interest and sometimes future required payments, so use the lender’s rules or a dedicated overpayment calculation.
How should I compare loan offers?
Compare the same amount and term, then review the lender’s APR, interest rate, monthly payment, total amount payable, fees, early-repayment terms and whether the rate can change.
Can I use the calculation in any currency?
Yes. The amortisation arithmetic is currency-neutral. Changing the currency selector changes labels and formatting only; it does not convert the entered amounts or account for local lending rules.
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