Loan Calculator
Calculate your fixed monthly loan payment, total amount paid, and total interest for any loan amount, interest rate, and term.
🔒 Processed locally in your browser
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How to use
- Enter the loan amount (principal) you plan to borrow.
- Enter the annual interest rate as a percentage, e.g. 6 for 6%.
- Enter the loan term and choose whether it's in years or months.
- Your monthly payment, total amount paid, and total interest update instantly below.
Features
- Uses the standard fixed-rate amortizing loan formula
- Switch the loan term between years and months
- Shows monthly payment, total paid, and total interest at a glance
- Handles 0% interest loans correctly
- 100% client-side — your loan details never leave your browser
Frequently asked questions
How is the monthly payment calculated?
This tool uses the standard fixed-rate amortization formula: M = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.
Can I enter the loan term in years or months?
Yes. Use the unit toggle next to the term field. Internally, years are converted to months (e.g. 30 years = 360 months) before the calculation runs.
Does this include taxes, insurance, or fees?
No. This calculator only estimates principal and interest on a fixed-rate loan. It doesn't account for property taxes, insurance, PMI, origination fees, or other costs, and isn't financial advice — actual loan terms and payments may differ.
What happens with a 0% interest loan?
When the interest rate is 0%, the monthly payment is simply the loan amount divided evenly by the number of months, with no interest added.
Does this tool store or upload my data?
No. All calculations happen locally in your browser. Your loan amount, rate, and term are never sent to a server or saved anywhere.