Calculate monthly payments, total interest, and get a full amortization schedule for any personal loan, mortgage, or auto loan.
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Term Unit:
Amortization Schedule
Month
Payment
Principal
Interest
Balance
What This Calculator Includes
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Monthly Payment
Get the exact fixed monthly payment using the standard compound interest amortization formula.
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Total Interest
See the total interest paid over the entire loan term — often surprising for long-term loans.
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Amortization Schedule
Full month-by-month breakdown of principal, interest, and remaining balance for every payment.
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Any Loan Type
Works for personal loans, mortgages, auto loans, education loans, or any fixed-rate loan.
Frequently Asked Questions
The formula is: Payment = P × r(1+r)^n / ((1+r)^n − 1). Where P = principal, r = monthly interest rate (annual ÷ 12), and n = total number of monthly payments. This ensures equal payments throughout the loan life.
It shows each payment broken into principal repayment and interest, plus the remaining balance. Early payments are mostly interest; later payments are mostly principal. This is standard for all fixed-rate loans.
Yes. Enter the home loan amount, the annual mortgage rate, and the term in years. The result shows your monthly mortgage payment and total cost. Note: this excludes property taxes, insurance, and HOA fees.
EMI (Equated Monthly Installment) is just another name for a monthly loan payment, commonly used in South Asia and the UAE. The calculation method is identical.
Three ways: 1) Get a lower interest rate (negotiate with lenders or improve credit score). 2) Choose a shorter loan term. 3) Make extra principal payments when possible — each extra payment reduces future interest significantly.
⚠️ Disclaimer: Loan calculations are for illustrative purposes only and do not constitute financial or legal advice. Actual monthly payments, interest rates, fees, and total repayment amounts vary by lender and individual borrower profile. Always confirm loan terms directly with your financial institution before borrowing.
How to Calculate Loan Payments
Enter the loan principal (amount you're borrowing), annual interest rate, and loan term.
Click Calculate to see your monthly payment, total interest, and total repayment amount.
Review the amortization table to understand how the principal-to-interest ratio shifts over time.
When You Need This
Planning any type of loan — personal, auto, business, or student.
Deciding between different loan offers by comparing total costs, not just monthly payments.
Understanding how extra payments can shorten your loan term and reduce total interest.
Good to Know
In the early years of a loan, most of your payment goes toward interest, not principal. As you progress, the ratio flips. Making even small extra payments toward principal in the early years can save thousands in interest over the life of the loan.
