Loan Calculator
Calculate monthly payment, total interest, and full amortization schedule
Balance Over Time
Amortization Schedule
Year-by-Year Amortization
| Year | Principal Paid | Interest Paid | Remaining Balance |
|---|---|---|---|
| Year 1 | $4,282 | $1,730 | $20,718 |
| Year 2 | $4,614 | $1,397 | $16,104 |
| Year 3 | $4,972 | $1,039 | $11,132 |
| Year 4 | $5,358 | $653 | $5,774 |
| Year 5 | $5,774 | $237 | $0 |
Loan Payment Formula
M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
P = principal · r = monthly rate · n = number of payments
Guide
How it works
Enter any loan amount, interest rate, and term to instantly see your monthly payment and total cost. Works for personal loans, auto loans, student loans, and more. Switch to the Month-by-Month tab for a full amortization breakdown.
What is APR vs interest rate?expand_more
The interest rate is the base cost of borrowing. APR (Annual Percentage Rate) includes fees and other costs, giving a truer picture of the total loan cost.
How do I download the amortization table?expand_more
Click 'Download PDF' to open the print dialog, then choose 'Save as PDF'. The year-by-year breakdown is included automatically.
How can I reduce my total interest?expand_more
Make extra payments toward principal, choose a shorter loan term, or refinance at a lower rate. Even one extra payment per year can save thousands.
Does this work for car loans?expand_more
Yes — this is a generic amortizing loan calculator. Enter any loan amount, rate, and term. For car-specific features, also try our Car Loan EMI calculator.
Next steps