Loan Calculator
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The monthly payment on a loan, and how much of it is interest each year.
- Put in the amount, the annual rate and the term
- Read the monthly payment and the total interest
- Look at the yearly table to see when you start paying off the debt
Every month
Year
| Year | Off the debt | Interest | Still owed |
|---|
Arithmetic only — no fees, insurance or lender terms, and not advice.
About this tool
The monthly payment is one number, and every lender's website will tell you it. What almost none of them show without a login is where that money actually goes. On a long loan, the early payments are nearly all interest. Borrow at 5% over thirty years and the first payment is about two-thirds interest; it takes roughly eighteen years before half of a payment is going on the debt itself. That is the thing worth seeing before signing anything, so the year-by-year split is here rather than just the totals. You get the payment, what you will have paid by the end, how much of that is interest, and what the interest comes to as a share of what you borrowed. That last figure is the one that lands: on a long mortgage it is often most of the original amount again. This is arithmetic and nothing more. It knows nothing about fees, insurance, arrangement costs or what any lender will actually offer you, and it is not advice about whether to borrow — that is a conversation with a person, not a number from a web page. It runs in your browser. Nothing you type is sent anywhere.
Frequently asked questions
Why is so much of the early payment interest?
Because interest is charged on what you still owe, and at the start you still owe almost all of it. The payment stays the same each month, so as the balance falls the interest part shrinks and the debt part grows. That crossover is what the yearly table shows.
Does this include fees or insurance?
No. It is the loan arithmetic only: amount, rate, term. Arrangement fees, mandatory insurance and early-repayment charges all change the real cost, and they vary so much by lender and country that including a guess would be worse than leaving them out.
Is this the APR?
No. The rate you type is the nominal annual rate. APR folds fees into a single comparable figure and is defined differently in different countries — if a lender quotes you an APR, the payment here will be close but not identical, and the difference is the fees.
What about a 0% loan?
It works. The standard payment formula divides by zero at a rate of nothing, so that case is handled separately — the payment is just the amount divided by the number of months, which is what an interest-free loan obviously is.
Should I take this loan?
That is not something a calculator can answer, and we will not pretend otherwise. This shows you what the arithmetic says the payments and the interest are. Whether it is affordable or wise depends on things no web page knows about you.
Is anything I type sent to a server?
No. It is all computed in this browser tab, including the year-by-year schedule. There is no account, no advertising and no third party watching what amounts you put in.
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