Loan Calculator
Enter the amount, rate and term of any loan, personal, car or home, to see what it costs each month and in total.
Your details
Result
Monthly payment
1,111.66
over 25 years
- Total interest
- 133,499.49
- Total repayment
- 333,499.49
- Principal200,000 (60%)
- Interest133,499 (40%)
Good to know: Compare terms. A longer loan lowers the payment but increases total interest.
Please note: Illustrative estimate based only on the numbers you enter. This is not financial, investment, tax or legal advice and not an offer of any product. Real products have fees, rate changes and rules this tool does not model. Check figures with your lender or a qualified, independent adviser before you decide.
About this tool
Calculate monthly loan payments, total interest, and payoff timelines — for mortgages, auto loans, and personal loans.
Formula
Monthly payment = P × r(1+r)^n ÷ ((1+r)^n - 1), where P = principal, r = monthly rate, n = number of months.
Reference values
- $200K mortgage at 6% for 30 years = $1,199/mo
- Total interest on above = $231,640
- Doubling rate roughly doubles total interest
Questions people ask
How is a monthly loan payment calculated?
From the loan amount, monthly interest rate and number of payments, using the standard amortisation formula.
What is the difference between a loan and a mortgage?
A mortgage is a loan secured on property. A personal loan usually has no collateral.
What if the interest rate is 0%?
The payment is simply the amount divided by the number of months.
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How we calculate this
We use the standard published formula or definition for this calculation, and we show the working so you can check it. Source: Standard fixed-rate amortisation formula.
Spotted a mistake? Tell us and we'll check it. How we check our calculators