About the Loan Calculator
The Loan Calculator helps you estimate how much you’ll pay each month on a loan, including both the principal and the interest. It’s a simple way to understand repayment terms before committing to a financial decision.
Why use a Loan Calculator?
- Instantly estimate monthly payments
- See how much total interest you’ll pay
- Understand how loan length affects costs
- Plan better for mortgages, car loans, or personal loans
How to use the tool
- Enter the loan amount (the money you borrow).
- Enter the interest rate (e.g., 5%).
- Enter the loan term (months or years).
- Click Calculate to instantly see monthly payments and total cost.
Example: A loan of $10,000 at 5% annual interest for 5 years results in a monthly payment of about $188.71.