Best Free Loan Calculator
Work out the monthly payment and true cost of a loan with full amortization — free, no signup.
100% free
No signup
No watermark
Files processed in memory, never stored
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How it works
- Enter the loan. Type the loan amount and the annual interest rate.
- Set the term. Enter the term and choose years or months.
- Read the result. The monthly payment, total interest and total paid update instantly. Open Advanced options for the breakdown.
About this tool
See what a loan really costs before you sign. Enter the amount you want to borrow, the annual interest rate and the term in years or months, and the calculator works out your fixed monthly payment using standard amortization — the same formula a bank uses — along with the total interest you will pay and the total amount repaid. Everything updates live, so you can compare a shorter term or a lower rate at a glance. It runs entirely in your browser; nothing is sent anywhere. Open Advanced options for a short breakdown.
What people use it for
- Estimate the monthly payment on a car or personal loan
- See how much total interest a loan will cost
- Compare a shorter term against a longer one
- Check how a lower interest rate changes the payment
Frequently asked questions
It uses the standard amortization formula, producing a fixed payment that clears the loan over the term — principal, monthly rate and number of payments combined.
The annual rate is divided by 12, and the term is converted to a number of monthly payments — so a 5-year loan is 60 payments.
It is the total paid over the life of the loan minus the amount you borrowed — the cost of borrowing on top of the principal.
Yes. Switch the unit to months, or leave it on years for a typical loan length.
Yes. With a 0% rate the payment is the amount divided by the number of payments, and total interest is zero.
No. The calculation runs entirely in your browser, so the amount, rate and term never leave your device.
Yes — Loan Calculator is completely free, with no watermark on the output and no credit card required.
Yes. It runs in your browser, so Loan Calculator works on phones and tablets as well as desktop — there is no app to install.
No. Loan Calculator works with no signup at all; an optional free account only exists to unlock higher usage limits.
Usually just a few seconds for a typical file — Loan Calculator starts working the moment you give it your input.