Loan Calculator

Calculate monthly payments and total interest

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Loan Calculator - Understanding Your Payments

Our loan calculator uses the standard amortization formula to calculate your monthly payments.

Common Loan Types

Loan Type Typical Rate Term
Auto Loan4-8%3-7 years
Personal Loan6-15%2-7 years
Student Loan4-7%10-25 years

Frequently Asked Questions

How is monthly payment calculated?

Monthly payment = P × [r(1+r)^n] / [(1+r)^n – 1], where P is principal, r is monthly rate, and n is number of payments.