What is Loan Calculator?
A loan calculator computes the fixed periodic payment for a loan (French amortization) and how each payment splits into principal and interest.
How to use Loan Calculator
- 1
Enter the loan amount and annual interest rate.
- 2
Set the term and payment frequency.
- 3
Optionally add an extra payment per period and review the schedule.
Features
- Monthly, biweekly, weekly, quarterly or annual payments
- Extra payments
- Full amortization schedule with CSV export
- Interest share of total
Practical uses
- Comparing mortgage or car loan offers.
- Seeing the effect of paying extra each month.
Limitations
- Assumes a fixed rate and fixed payments; fees, insurance and variable rates aren't included.
- Lenders may round differently, so figures can differ slightly from an official offer.
Frequently asked questions
What rate should I enter?
The nominal annual interest rate (TIN/APR nominal). The APR/TAE including fees will give a higher real cost.
How do extra payments help?
They reduce the principal sooner, so less interest accrues and the loan ends earlier.