Free Loan Payment Calculators
Every instalment loan works the same way underneath
Personal, auto and business loans differ in how they are underwritten and not at all in how the arithmetic works. Four calculators for the payment and APR, the full schedule, the payoff time at any payment, and the balance remaining.
Personal Loan Calculator
Calculate the monthly payment, total interest and APR on a personal, auto or business loan, including fees.
Result
Monthly payment
$525
Total interest
$6,503
- APR including fees
- 10.37%
- Scheduled payment
- $525
- Total paid
- $32,003
- Interest plus fees
- $7,003
- Payments to clear
- 60 months
- Interest share of total paid
- 20.64%
The APR shown treats the fee as paid out of the loan proceeds, which is the usual disclosure basis.
Add an extra payment amount to see how much interest a larger payment removes.
Yearly payoff summary
| Year | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|
| 1 | $4,101 | $2,200 | $20,899 |
| 2 | $4,508 | $1,792 | $16,391 |
| 3 | $4,956 | $1,345 | $11,435 |
| 4 | $5,447 | $853 | $5,988 |
| 5 | $5,988 | $313 | $0 |
Read the full guide, worked examples and FAQ for this calculator →
Popular tools
The calculators visitors to LoanCalculatorTools open most often.
- Loans
Personal Loan Calculator
Calculate the monthly payment, total interest and APR on a personal, auto or business loan, including fees.
Open calculator → - Amortization
Loan Amortization Calculator
Build a payment-by-payment schedule for any instalment loan, with the principal and interest split and the payoff date.
Open calculator → - Payoff & Debt
Loan Payoff Time Calculator
Find how long a balance takes to clear at a chosen payment, and how much of the total is interest.
Open calculator → - Amortization
Loan Balance Calculator
Find the remaining balance after a number of payments, how much has gone to interest, and how much is left to pay.
Open calculator →
A fixed payment, a fixed term, and interest charged on a falling balance - that is every instalment loan, whatever it is called. What differs between offers is the rate, the term and the fees, and each of those has a measurable effect that a monthly payment figure hides.
These tools separate them. The APR shows what fees are worth as a rate. The schedule shows where each payment goes. The payoff calculator shows what a larger payment is worth, and it will tell you plainly when a payment is too small to ever clear the balance.
Browse by category
Amortization
Schedules, balances and the split between principal and interest.
Payoff & Debt
Extra payments, payoff dates and debt elimination strategies.
Why use LoanCalculatorTools
APR including fees
An origination fee is a rate in disguise. Folding it into an APR is what makes two offers with different fee structures comparable.
The full schedule
Balance at any date, the interest split on any payment, and what an extra monthly amount does to the payoff date.
The line below which payments do nothing
When a payment is less than the monthly interest, the balance grows. The payoff calculator detects that and says so.
Free, private, no account
No sign-up, no application form, no broker. Everything runs in your browser and nothing is stored.
How it works
- Compare offers on APR rather than on rate, when the terms match.
- Build the schedule to see where the payments actually go.
- Test a larger payment to see how much interest it removes.
- Check the balance against your statement whenever the two seem to disagree.
Guides
Plain explanations of the concepts behind the calculators.
How Mortgage Amortization Works
A fixed payment that never changes is split between interest and principal in proportions that change every month. Understanding that split explains most of what is confusing about long loans.
APR vs Interest Rate
The interest rate determines the payment. The APR folds fees into a rate so two offers with different fee structures become comparable - as long as the terms match.
How Lenders Assess Affordability
Affordability is decided primarily by a ratio capping total monthly debt against gross income - but the ratio is one gate among several, and the maximum is not a target.
Frequently asked questions
Can this tell me what rate I qualify for?
No. Rates depend on credit, income and lender pricing. These tools apply a rate you have already been quoted.
Why is the APR higher than the interest rate?
Because it includes the fees. With no fees the two are effectively the same figure - the gap is the cost of the fee expressed as a rate.
Does a longer term ever make sense?
When the shorter payment is not comfortably affordable, yes. It costs more in total interest, and that extra is the price of a payment you can actually sustain.
Will extra payments reduce my payment or my term?
On most loans the term shortens and the payment stays the same. Some lenders will recast the payment after a large lump sum if you ask.
Do you share my details with lenders?
No. There is no application form and no lead generation on this site. Every calculation runs in your browser.