Loan Calculator
A loan calculator estimates the fixed payment needed to repay a loan with interest over a set term. This free tool uses the standard amortization formula to show your monthly, bi-weekly or weekly payment, total interest and payoff date, how extra payments reduce interest, and a full schedule you can view by year or download as CSV.
Free, no signup. Runs entirely in your browser; files and text are not uploaded.
How to use the Loan Calculator
- Enter the loan amount, the annual interest rate (APR) and the loan term in years.
- Choose the payment frequency: monthly, bi-weekly or weekly.
- Optionally add an extra payment each period to see the interest saved and the new payoff time.
- Review the payment, total paid and total interest, then open the amortization schedule by year or every payment.
- Click Download CSV to save the full schedule for a spreadsheet.
Features
- Payment per period for monthly, bi-weekly or weekly schedules
- Total paid, total interest and payoff time
- Extra payment option showing interest saved and how much sooner the loan ends
- Amortization schedule by year or by every payment
- Download the full schedule as a CSV file
- Currency selector (USD, EUR, GBP, INR, PKR, AED, CAD, AUD)
- Inline validation for empty, negative and out-of-range values
Frequently asked questions
How is the monthly loan payment calculated?
The calculator uses the standard amortization formula: payment = P × r / (1 − (1 + r)^−n), where P is the loan amount, r the periodic interest rate (APR ÷ payments per year) and n the number of payments. At 0% interest the payment is simply P ÷ n.
What is the payment on a $100,000 loan at 5% for 30 years?
About $536.82 per month. Over 360 payments you would pay roughly $193,256 in total, of which about $93,256 is interest.
How do extra payments affect my loan?
Extra payments go straight to principal, so each later payment includes less interest. Enter an amount in "Extra payment each period" to see the interest saved and how much earlier the loan is paid off.
Does the result include taxes, insurance or fees?
No. The estimate covers principal and interest on a fixed-rate loan only. Property tax, insurance, PMI and lender fees are not included, so a real mortgage payment can be higher.
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Built and reviewed by Naqash Thaheem, Technical Project Manager. Last reviewed 2026-09-24.