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Loan Calculator

Find the monthly payment, total interest and repayment summary.

Calculators Free, no sign-up Runs in your browser
0.00
Monthly payment
0.00
Total repaid
0.00
Total interest
0
Number of payments

Where each year's payments go

Principal repaid Interest paid

Year-by-year summary

YearPrincipalInterestBalance

Figures assume a fixed rate, equal monthly payments and no fees. Real agreements may include arrangement fees, insurance or a variable rate. This is a calculator, not financial advice.

About the Loan Calculator

Loan Calculator works out the monthly payment on a fixed-rate loan using the standard amortisation formula. Enter the amount borrowed, the annual interest rate and the term in years, and you get the monthly payment, the total you will repay over the life of the loan, and how much of that total is interest.

The yearly summary shows how the balance falls and how each year's payments split between principal and interest. Early payments are mostly interest and later ones mostly principal, which is why paying a loan off early saves more than people expect and why the first few years of a long mortgage barely dent the balance.

The figures assume a fixed rate, equal monthly payments and no fees. Real agreements often add arrangement fees, insurance requirements or variable rates, so use this for comparison and planning rather than as a quotation. It is a calculator, not financial advice; a lender or a qualified adviser can tell you what a specific product will actually cost you.

How to use the Loan Calculator

  1. Enter the loan amountThe sum you expect to borrow, before any fees.
  2. Enter the annual interest rateUse the nominal annual rate quoted by the lender.
  3. Set the termEnter the length of the loan in years.
  4. Review the summaryMonthly payment, total repaid and total interest appear, with a year-by-year breakdown underneath.

Features

  • Monthly payment from amount, rate and term
  • Total repaid and total interest over the full term
  • Year-by-year table of principal, interest and remaining balance
  • Visual bar showing the split between principal and interest
  • Handles a zero percent rate correctly
  • Live recalculation as you change any input
  • Copy the summary

Who uses this tool

The loan calculator is used by writers, developers, students, marketers and anyone else who needs the job done once without installing software. Common cases include:

  • Comparing loan offers with different rates and terms
  • Estimating a mortgage payment before applying
  • Seeing how much a longer term really costs in interest
  • Checking a payment figure quoted by a lender
  • Planning a budget around a fixed repayment

Frequently asked questions

What formula is used?

The standard amortisation formula for a fixed-rate loan with equal monthly payments. The annual rate is divided by twelve to get a monthly rate, and the term is converted to a number of monthly payments.

Why does a longer term cost so much more?

A longer term lowers each payment but leaves the balance outstanding for longer, so interest accrues over more months. Stretching a loan from fifteen years to thirty can easily double the total interest paid.

Are fees included?

No. The calculation covers principal and interest only. Arrangement fees, valuation costs, insurance and early repayment charges all sit outside it, so compare the full cost before choosing a product.

Does this work for a mortgage?

Yes, for a fixed-rate repayment mortgage. Interest-only mortgages, offset accounts and variable rates follow different arithmetic and need their own calculations.

What does the year-by-year table show?

For each year it shows how much of your payments went to interest, how much reduced the balance, and what was still owed at the end. It makes the shift from interest-heavy to principal-heavy payments visible.

Is this financial advice?

No. It is a calculator that applies a published formula to the numbers you enter. It cannot assess your circumstances, and a lender or qualified adviser should be consulted before committing to borrowing.

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