Loan Calculator
Calculate personal, mortgage and auto loan installments by interest rate.
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The tool uses the equal-installment annuity model. Installment and total cost are calculated from monthly interest, term and fee inputs.
How is a loan calculated?
For an equal-installment loan, the monthly payment is found with the annuity formula using principal, monthly interest rate and term. The difference between total installments and principal gives the total interest burden. If a fee is entered, it is added separately to the total cost.
Scope and assumptions
The tool is based on the standard equal-installment loan plan. Bank practices such as daily accrual, taxes, insurance, partial prepayment, deferral or promotional conditions can change the actual repayment schedule.