Loan calculator
Know the payment, the total interest and the full cost of a loan before you sign.
- 100% free
- No sign-up
- Runs in your browser
Your loan
Term in
Each payment
Enter the amount, the interest rate and the term to see your payments.
Next: Mortgage calculator · Compound interest calculator · Percentage calculator
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How to use Loan calculator
Enter the loan
Type the amount you’re borrowing and the yearly interest rate.
Set the term
Enter the term in years or months and choose how often you pay: monthly, fortnightly, weekly, quarterly or yearly.
Read the result
See each payment, the total interest, the total cost and the schedule. Tick interest only to compare an interest-only loan.
Why use Utils365
Any kind of loan
Car loans, personal loans, student loans or business loans: the maths for a fixed-rate loan is the same.
Full repayment schedule
See every year, and every payment in it, with the interest, the principal and the balance left.
Interest-only option
See the interest-only payment and the large final payment it leaves, next to a normal repayment loan.
Private and free
Nothing you type leaves your device. No sign-up, no lender, no credit check.
Frequently asked questions
How do I calculate a loan payment?
Use payment = P × r ÷ (1 − (1 + r)^−n), with P the amount, r the rate per payment and n the number of payments. A 20,000 loan at 7.5% over 5 years is 400.76 a month, and 4,045.54 in interest.
How is total interest worked out?
Add up every payment and subtract the amount borrowed. The longer the term, the lower each payment but the more interest you pay in total.
Is a shorter loan term better?
It costs less overall. 20,000 at 7.5% costs 2,397 in interest over 3 years but 4,046 over 5 years, though the monthly payment is 622 instead of 401.
What is an interest-only loan?
You pay just the interest each period, so payments are low, but the whole amount borrowed is due at the end. 10,000 at 12% is 100 a month, then 10,100 with the last payment.
What is the difference between APR and the interest rate?
The interest rate is what the loan charges; the APR also spreads the lender’s fees over the term. To compare loans with fees, enter the APR as the rate.
Can I use it for a loan with no interest?
Yes. Enter 0% and the amount is simply split evenly across the payments.