BYTETOOLS

Loan Calculator

Calculate your monthly loan payment, total interest and total cost. Includes a full amortization schedule for any loan amount, rate and term.

$400.76
Monthly payment
$4,045.54
Total interest
$24,045.54
Total paid

Amortization schedule (60 months)

MonthInterestPrincipalBalance
1$125.00$275.76$19,724.24
2$123.28$277.48$19,446.76
3$121.54$279.22$19,167.54
4$119.80$280.96$18,886.58
5$118.04$282.72$18,603.86
6$116.27$284.48$18,319.38
7$114.50$286.26$18,033.11
8$112.71$288.05$17,745.06
9$110.91$289.85$17,455.21
10$109.10$291.66$17,163.55
11$107.27$293.49$16,870.06
12$105.44$295.32$16,574.74

Estimates only, not financial advice. Actual loan terms and fees may vary by lender.

  • Monthly payment from amount, rate and term
  • Total interest and total cost of the loan
  • Full month-by-month amortization schedule
  • Term in years or months, with 0% rate supported
  • Any currency symbol, calculated locally
  • Private and free; estimates only, not advice

How to use the Loan Calculator

  1. 1

    Pick your currency and enter the loan amount.

  2. 2

    Enter the annual interest rate as a percentage.

  3. 3

    Enter the term and choose years or months.

  4. 4

    Read the monthly payment, total interest and total paid.

  5. 5

    Expand the amortization schedule to see every payment.

About the Loan Calculator

The ByteTools Loan Calculator works out the monthly payment on any fixed-rate loan and shows exactly how much interest you will pay over its life. Enter the loan amount, annual interest rate and term in years or months to see the monthly payment, total interest and total amount repaid.

A full amortization schedule breaks each payment into interest and principal so you can watch the balance fall month by month. It is ideal for personal loans, auto loans, student loans and any installment borrowing.

Calculations run entirely in your browser and nothing is uploaded. The results are estimates for planning only and are not financial advice; your lender's APR, fees and rounding may differ slightly.

Frequently asked questions

How is a monthly loan payment calculated?

Fixed-rate loans use the amortization formula M = P × r × (1 + r)^n / ((1 + r)^n − 1), where P is the loan amount, r is the monthly rate (annual rate ÷ 12) and n is the number of monthly payments. Each payment is the same, but the split between interest and principal changes over time.

What is an amortization schedule?

An amortization schedule lists every payment and shows how much goes to interest and how much reduces the principal, along with the remaining balance. Early payments are mostly interest; later payments are mostly principal, because interest is charged on a shrinking balance.

How can I pay less interest on a loan?

A shorter term, a lower interest rate, or extra payments toward the principal all reduce total interest. Even small overpayments early in the loan cut the balance that future interest is charged on, saving money over the full term.

Does this include fees or APR?

No. The calculator uses the nominal interest rate on the amount borrowed and does not include origination fees, insurance or other charges. Your lender's APR reflects those extras, so the real cost may be a little higher.

Are my loan figures private?

Yes. Everything is computed in your browser and never sent to a server, so your loan amount, rate and schedule stay completely private.

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