Financial Calculators
Loan Calculator
Calculate your monthly payment for any loan — personal, student, home equity, and more. See total interest and a full amortization schedule instantly.
Loan Details
Amortization Schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 2026 | $3,181 | $1,328 | $21,819 |
| 2027 | $4,529 | $1,483 | $17,290 |
| 2028 | $4,880 | $1,131 | $12,410 |
| 2029 | $5,259 | $752 | $7,151 |
| 2030 | $5,667 | $344 | $1,484 |
Monthly Payment
$501
Cost Breakdown
Total Interest
$5,057
over loan life
Total Cost
$30,057
principal + interest
Loan Term
5 yr
Paid Off
Mar 2031
How does this loan calculator work?
Enter the loan amount, annual interest rate, and loan term. The calculator applies the standard amortization formula M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1] to compute your monthly payment and builds a full year-by-year amortization schedule.
What types of loans can I calculate?
This calculator works for any fixed-rate loan: personal loans, student loans, home equity loans, medical loans, and more. For auto loans use the Auto Loan Calculator, and for mortgages use the Mortgage Calculator.
How can I reduce total interest paid on my loan?
- Choose a shorter loan term
- Make extra payments toward principal
- Refinance to a lower interest rate
- Increase your monthly payment above the minimum