Loan Calculator

Calculate monthly repayments, total interest and a full amortization schedule.

%
years
Formula: PMT = P · r / (1 − (1 + r)^−n)
  • P = loan principal
  • r = monthly interest rate (annual ÷ 12)
  • n = number of monthly payments

How to use the Loan Calculator

  1. Enter the loan amount. The total amount you're borrowing.
  2. Add rate and term. Your annual interest rate and the length in years.
  3. Review the schedule. See your monthly payment and the year-by-year breakdown.

Why use our Loan Calculator

Full amortization. See exactly how much of each year goes to principal vs interest.
Any loan. Mortgages, car loans, personal loans — any amount, rate and term.
Instant results. Payment and schedule update the moment you change a value.

Free to use — premium coming soon

FREE
  • Monthly payment
  • Total interest
  • Amortization schedule
PREMIUM
  • Remove ads
  • Extra-payment modelling
  • Export schedule to PDF/CSV

About the Loan Calculator

The Loan Calculator turns three numbers you already know into the figures lenders rarely show up front: your fixed monthly repayment, the total interest you will pay over the life of the loan, and a year-by-year breakdown of how the balance falls. Enter the amount you want to borrow, the annual interest rate, and the term in years, and it computes everything instantly. It works for any fixed-rate installment loan with equal payments, whether that is a car loan, a personal loan, a student loan, or a home loan, because the underlying math is the same for all of them.

Reach for this tool before you sign anything. Comparing two offers becomes simple when you can see that a slightly lower rate or a shorter term changes the total interest by hundreds or thousands. It also helps when you are budgeting: knowing the exact monthly figure tells you whether a loan fits alongside your other commitments. Many people use it to test a hypothetical, such as borrowing $20,000 over five years versus seven, and immediately see how stretching the term lowers the monthly payment while raising the total interest paid.

Behind the scenes it uses the standard amortization formula, M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate (the annual rate divided by 12), and n is the number of monthly payments (years times 12). Each month, interest is charged on the remaining balance, and whatever is left of your fixed payment reduces the principal. Because the balance shrinks every month, the interest portion steadily falls and more of each payment attacks the principal, which is why the amortization schedule shifts so dramatically from the first year to the last.

Everything is calculated in your browser, so the loan amount, rate, and term you type never leave your device or get sent to a server. There is nothing to save and no account to create. One accuracy note: the result assumes a fixed rate and equal monthly payments, and it does not include lender fees, insurance, or taxes. Because of that, the rate you enter behaves like a nominal interest rate rather than an APR, which also folds in fees, so a real quote with charges may cost slightly more than the figure shown here.

Frequently asked questions

How does the calculator work out my monthly payment?

It applies the standard amortization formula, dividing your annual rate by 12 to get a monthly rate and multiplying your term in years by 12 to get the number of payments. This produces one fixed payment that fully clears the loan, principal plus interest, by the final month.

Why does so much of my early payment go to interest?

Interest is charged on the outstanding balance, which is highest at the start. Early on, most of each payment covers that interest and only a little reduces the principal; as the balance falls, the interest portion shrinks and more of each payment goes to principal.

Is the interest rate the same as APR?

No. The rate you enter is the nominal interest rate on the principal. APR also includes fees such as origination charges, so it is usually a bit higher. Use APR when comparing the true cost of two loan offers.

Will paying extra each month really save money?

Yes. Any amount above your scheduled payment goes straight to the principal, reducing the balance interest is charged on and shortening the term. Most installment loans have no prepayment penalty, but it is worth confirming with your lender first.

Does the calculator include taxes, insurance, or fees?

No. It shows only principal and interest for a fixed-rate loan with equal payments. For a mortgage, you would add property taxes, homeowners insurance, and any closing costs separately to see your full monthly outlay.

From our blog

How to Calculate Your Daily Protein Target (and Actually Hit It)

By the Super Simple Digital Tools Team · Updated June 2026

Most people either guess at protein or default to the headline RDA number, and both lead to misses. The honest first step is choosing the right activity level. The 0.8 g/kg Recommended Dietary Allowance is a minimum to prevent deficiency in sedentary adults, not an optimal target for someone who lifts weights three times a week. Being truthful about your real activity, not your aspirational schedule, is what makes the calculator's output trustworthy.

Once you have your target, the next challenge is distribution. A daily figure like 120 grams is easier to reach when spread across the day rather than crammed into dinner. Splitting protein into three or four meals of roughly 25 to 40 grams each keeps muscle protein synthesis stimulated through the day and is far more achievable than a single huge serving. This also explains why breakfast matters: many people under-eat protein in the morning and then cannot catch up by evening.

Translating grams into food is where the plan becomes real. As rough anchors, a chicken breast holds around 30 to 40 grams, a large egg about 6, a cup of Greek yogurt roughly 20, a scoop of protein powder 20 to 25, and a cup of cooked lentils around 18. Knowing a handful of these values lets you assemble meals to your target quickly without weighing every ingredient or logging obsessively.

Plant-based eaters can hit the same numbers but should pay attention to variety. Combining sources such as legumes, soy, grains, nuts, and seeds across the day covers the full range of essential amino acids. Soy, in particular, is a complete protein, and tofu, tempeh, edamame, and lentils make reaching a higher target straightforward without animal products.

Finally, treat your calculated number as a hypothesis to test, not a rule carved in stone. Aim for it consistently for two to four weeks, then judge the results against how you recover, train, and feel. If you are constantly hungry, losing strength, or struggling to recover, nudge intake up within the recommended range. The calculator gives you a credible starting point; your own response over time fine-tunes it.

  • Set the activity level to match your real weekly routine, not your best week, so the target reflects how you actually train.
  • Divide your daily goal into three or four meals of about 25 to 40 grams each rather than backloading protein at dinner.
  • Memorize the protein content of five staples you eat often so you can build meals to your target without constant tracking.
  • Recalculate after a meaningful weight change, since a target tied to body weight drifts as you gain or lose pounds.

Read the full guide →

Tool by the Super Simple Digital Tools Team. Reviewed by our editorial team. Free to use, no signup required.

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