Loan Calculator
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A loan calculator for the monthly payment, and how much of it is interest.
- 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.
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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. It is also the mortgage calculator most people are looking for. A mortgage is a loan, and the arithmetic is identical: put in the amount borrowed, the interest rate and the term, and you get the monthly payment, the total interest and the year-by-year balance. What it deliberately does not include is the rest of a housing cost — property tax, buildings insurance, service charges, or mortgage insurance where a deposit is small. Those vary by country and by property, and a number that quietly folded a guess at them in would be worse than one that leaves them out and says so.
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 it show an amortisation schedule?
Yes — year by year, with the split between interest and principal and the balance left at the end of each. The amortisation schedule is the part worth reading: early payments are mostly interest and late ones mostly principal, which is why overpaying in year one is worth several times what the same money does in year ten.
Can I use it for a mortgage payment?
For the payment itself, yes — a mortgage is a loan and the arithmetic is identical. What it does not include is the rest of what a mortgage costs: insurance, property tax, fees, or a rate that changes partway. Treat the number as the loan part of the payment rather than the whole bill.
How do I work out a monthly payment?
Put in the amount borrowed, the annual rate and the term, and the monthly payment is the headline figure. It is the standard amortisation formula every lender uses, so the number matches theirs — what most of them do not show, and this does, is the total interest beside it and how little of an early payment touches the balance.
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.
Can I use this as a mortgage calculator?
Yes, for the payment itself. A mortgage is a loan and the maths is the same, so the monthly payment, total interest and amortisation table are exactly right. What is not included is property tax, insurance and any mortgage insurance — those depend on where you live and what you are buying, and folding a guess at them into the figure would make it look more complete while being less true. Add them separately to the monthly payment shown here.
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