Loan Calculator – Free Online Tool
Estimate monthly payments. Open the tool directly in your browser using LifeTools.
How to use Loan Calculator
- Enter the requested numbers in the calculator.
- Select Calculate to compute the result.
- Review the result and adjust the inputs if needed.
About this tool
Estimates are illustrative and may differ from lender offers and fees.
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How monthly loan payments are estimated
Enter the amount borrowed, the annual interest rate and the number of months. For a fixed interest rate, the calculator estimates a level monthly repayment using a standard amortization formula. A zero-interest loan divides the principal evenly across the term.
Example
For a loan of 10,000 at 6% annual interest over 24 months, the estimated monthly payment is about 443.21 before any additional charges. This example assumes a fixed rate and regular monthly payments.
What is not included?
Lender fees, insurance, variable rates, early repayment charges and local taxes may change your actual cost. Compare the lender's full repayment schedule before making a financial decision.
Related tools
Try the Percentage Calculator or Compound Interest Calculator.