Loan Calculator
Estimate the monthly payment, total cost and total interest of an amortising loan such as a personal loan, car finance or student loan. Enter the principal, annual interest rate and term in years — the schedule previews the first 12 months so you can see how each payment splits between interest and principal.
How to use
- 1
Enter the principal
Type the loan amount you intend to borrow. Defaults to 250,000 to make the example tangible.
- 2
Enter the annual interest rate
Use the nominal annual percentage rate (APR) quoted by your lender. A 7.5% APR means typing 7.5.
- 3
Enter the term in years
Specify the loan duration. A 15-year loan means typing 15 — the calculator converts to 180 months internally.
- 4
Read the schedule
Monthly payment, total payment and total interest update live. The first 12 months of the amortisation schedule are shown to illustrate the interest-vs-principal split.
Common use cases
- Compare a 15-year vs 30-year loan on the same principal to see interest savings.
- Estimate the monthly payment on a car finance quote before signing.
- Stress-test a personal loan repayment against a higher interest rate.
- Understand why early payments are interest-heavy and how that shifts over time.
Limitations
- This calculator produces an estimate only and is not professional financial, tax or investment advice. Always confirm the underlying formulae with your accountant, bank or financial advisor before making decisions.
- The model assumes a fixed interest rate and level monthly payments (annuity structure). Variable-rate, interest-only and balloon loans are not modelled.
- Origination fees, insurance, taxes and early-repayment penalties are excluded. Add the fee to the principal to approximate its effect.
- Day-count conventions differ between lenders; small discrepancies (typically < 1%) may appear when compared to your bank's quote.
Frequently asked questions
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