Loading...
Loading...
money
Free loan calculator. Enter the amount, interest rate and term to estimate your monthly payment and the total you will repay. See the real cost of borrowing.
Enter your values and select Calculate to see the result.
Most loans are repaid in equal monthly instalments that cover the interest for the month and a part of the amount borrowed. Knowing the monthly payment before you borrow helps you decide what you can afford.
Enter the loan amount, the annual interest rate and the term in years. The calculator estimates the monthly payment and the total you will repay, so you can see the real cost of borrowing. Fees, insurance and different compounding rules at your lender can change the final figure.
payment = P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1)
Payments are estimated using monthly compounding.
Estimates only. This calculator gives a general estimate and is not financial, tax or legal advice. Rates, fees and rules vary by country and situation. Read our disclaimer.
The calculator uses the standard amortisation formula with monthly compounding: payment = P × r(1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate and n is the number of months.
With no interest, the payment is simply the loan amount divided by the number of months.
Lenders may add fees, insurance, different day-count rules or a different compounding method, and the first payment date can change the total. Treat this result as an estimate.
A shorter term or a lower rate reduces the total interest. Compare the “Total paid” figure for different terms to see the difference.