Loan Payment Calculator
Calculate your loan payments and see the complete amortization schedule
Why Use Our Loan Calculator?
Accurate Calculations
Our calculator uses industry-standard formulas to provide precise loan payment estimates and amortization schedules.
Detailed Breakdown
Get a complete view of your loan with monthly payment breakdowns, principal vs. interest analysis, and remaining balance tracking.
Easy to Use
Simple input fields and instant results make it easy to calculate loan payments and understand your financial commitment.
Free to Use
Access our loan calculator anytime, anywhere - completely free of charge. No registration required.
How to Use the Loan Calculator
Enter Loan Details
Input your loan amount, interest rate, and loan term in years. The calculator will automatically process your information.
View Results
Get instant results showing your monthly payment, total payment, and total interest. The amortization schedule shows how your payments are applied over time.
Plan Your Budget
Use the results to plan your budget and make informed decisions about your loan. Compare different scenarios by adjusting the inputs.
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule is a table showing how your loan payments are applied to both principal and interest over time. It helps you understand how your loan balance decreases with each payment.
How is the monthly payment calculated?
The monthly payment is calculated using the loan amortization formula, which takes into account the loan amount, interest rate, and loan term. This ensures that your payments are consistent throughout the loan period.
What is the difference between principal and interest?
Principal is the original loan amount you borrowed, while interest is the cost of borrowing that money. Each payment includes both principal and interest, with the proportion changing over time.