Loan Calculator
Calculate your loan: monthly payments, total interest and loan term. Suitable for personal loans and consumer credit.
What is a loan?
A loan is an amount of money that you borrow and repay in instalments, usually with interest. The total cost of a loan depends on the loan amount, interest rate and term.
With this loan calculator, you can instantly see your monthly payments and the total cost of the loan.
How does this loan calculator work?
The tool is based on an annuity loan, which is the most common type of personal loan. This means:
- the same payment every month
- interest and repayment combined
- a fixed term
Enter the loan amount, interest rate and term, and the tool will automatically calculate everything.
When should you use this tool?
- calculating a personal loan
- comparing credit costs
- financial planning
- studies and training courses
- financing major purchases
Who is this tool suitable for?
- consumers
- business owners
- students
- financial advisers
- anyone considering a loan
What does the tool show?
- gross monthly payment
- total interest over the term
- total amount to be repaid