Loan Calculator

About this tool

Enter the loan amount, the annual interest rate and the term, and this calculator works out the fixed monthly payment for an amortising loan — the kind where each payment covers interest plus a bit of the balance until it's paid off. It also shows the total you'll repay and how much of that is interest.

It's a useful estimate for mortgages, car loans and personal loans. Your figures stay in your browser.

Frequently asked questions

How is the monthly payment calculated?

It uses the standard amortising-loan formula, which spreads the balance and interest evenly across every month so the payment stays the same throughout the term.

Does this include taxes, fees or insurance?

No. It covers principal and interest only. Real-world costs like taxes, insurance or arrangement fees would be on top of this figure.

What if the interest rate is 0%?

Then the payment is simply the loan amount divided by the number of months, and the total interest is zero.