Loan Calculator
Compare repayment methods and see every payment
Loan summary
Equal payment
USDEstimated payoff-
Where the money goes
Effect of extra payments
Add an extra monthly principal payment to compare the faster payoff.
- Interest saved
- -
- Time saved
- -
Payment schedule0 payments
| Period | Opening balance | Payment | Principal | Interest | Extra principal | Closing balance |
|---|
What this estimate assumes
- Every money field uses the selected loan currency. The calculator does not fetch or apply exchange rates.
- The rate stays fixed for the full term and is divided into monthly periods.
- One-time fees are paid separately; they are not financed and do not accrue interest.
- Extra payments are applied directly to principal after the scheduled principal amount.
- A lender may use different day counts, rounding, fees, insurance, taxes, or early-payment rules.
Quick guide
What can Loan Calculator help you do?
Free loan calculator for monthly payments, total interest, fees, extra-payment savings, payoff time, and a downloadable amortization schedule.
Best for
Compare equal-payment and equal-principal loans using the same amount, nominal rate, and term. It suits fixed-rate personal, auto, or student debt.
How to use it
Select one of 10 currencies, then enter the amount, annual rate, term, and one-time fee. Advanced settings accepts fixed extra principal each month.
How to read the result
Review payments, total interest, and payoff time. The schedule splits principal, interest, extra principal, and balance.
Privacy and limits
Amounts stay in your browser and are not uploaded. No bank login is used; CSV and schedule images remain on your device.
Estimate only. Fees and prepayment rules vary; rely on the lender’s written quote, APR disclosure, and contract.
Frequently Asked Questions
What is the difference between equal payment and equal principal?
Equal payment keeps the scheduled payment mostly fixed while the principal share grows over time. Equal principal repays the same base principal each month, so the first payments are higher and later payments decline.
How are extra payments applied?
The calculator applies the regular principal first, then sends the extra monthly amount directly to principal. This keeps the original scheduled payment and estimates an earlier payoff. Confirm how your lender handles prepayments.
Do one-time fees change the interest calculation?
No. This tool treats the entered fee as a separate cash cost that is not financed and does not accrue interest. It is included in total cash paid, but it is not presented as APR.
Why can the last payment be different?
Each period is posted at the selected currency precision. The final payment is adjusted to clear the exact remaining principal, so the schedule adds back to the summary.
Does changing the loan currency convert the amounts?
No. The currency selector defines the denomination used for every money field and result; it does not fetch or apply an exchange rate. Enter the loan amount, fees, and extra payments in the currency shown beside those fields.
Can I use this for auto, personal, or student loans?
Yes, when the loan has a fixed nominal annual rate and monthly payments. Variable rates, daily interest, insurance, taxes, and lender-specific fees require a lender quote.
Does the calculator upload my financial information?
No. Calculations and CSV generation run in your browser, with no account or file upload.