What is a Loan Calculator?

Fixed-rate amortized loans distribute repayment across equal periodic installments. Each payment covers the accrued monthly interest (principal × monthly rate), with the remainder reducing the loan principal. Early payments consist primarily of interest charges, while subsequent installments increasingly pay down principal.

This calculator computes monthly payments using standard amortization formulas: M = P × [r(1+r)^n] / ((1+r)^n − 1), where P is principal, r is the monthly interest rate, and n is total months. It evaluates these values in client-side memory and builds an itemized amortization schedule table.

How to use it

1. Enter your borrowing principal in the Loan amount ($) field (e.g., 250000).
2. Enter the expected interest rate in the Annual rate (%) field (e.g., 6.5).
3. Enter the repayment duration in the Term (years) field (e.g., 30).
4. Review the calculated Monthly payment, Total interest, and Total paid summary cards.
5. Inspect the Amortization schedule (first 12 months) table to see the exact breakdown of principal, interest, and remaining balance.

Why use this over alternatives

Many web loan calculators capture entered financial amounts to serve targeted loan advertisements or sell lead data to brokers. This calculator executes calculations locally using your browser's JavaScript engine. Your financial figures are processed purely on your machine with zero server tracking.