Work out exactly what a loan will cost you before you sign anything. Enter the amount you want to borrow, the annual interest rate and the repayment term, and this free loan calculator shows your monthly payment, the total amount repayable and how much of that is interest.
How to Use
- Enter the loan amount you would like to borrow.
- Type the annual interest rate as a percentage, for example 6.5.
- Enter the repayment term in years.
- Click Calculate to see your monthly payment, total repayable and total interest.
- Use Reset to clear the form and try different figures.
Key Features
- Accurate monthly payments. Uses the standard amortising loan formula lenders rely on.
- True cost of borrowing. Shows total repayable and total interest side by side.
- Zero-interest friendly. Handles 0% rates correctly instead of dividing by zero.
- Private by design. Every calculation runs in your browser; nothing is uploaded or stored.
- Mobile ready. The layout adapts neatly to phones, tablets and desktops.
FAQs
How is the monthly payment calculated?
It uses the standard amortising loan formula: the monthly rate is derived from the annual rate, and the payment is spread evenly across every month of the term so the balance reaches zero with the final payment.
Does the result include fees or insurance?
No. Arrangement fees, payment protection and insurance are not included, so treat the result as the cost of the borrowing itself and add any fees separately.
Can I use this for a mortgage?
Yes, the maths is the same for any amortising loan. For property purchases, our Mortgage Calculator is a better fit because it is tailored to home loans.
Is any of my data stored?
No. All calculations happen locally in your browser, and the figures you enter never leave your device.
Related Tools
Mortgage Calculator · EMI Calculator · Compound Interest Calculator