$12,000 at 9.5% for 4 years
- Total paid
- $14,470.93
- Total interest
- $2,470.93
- Payments
- 48 months
This is fixed-rate payment math only. Compare the result with the written APR, fees, prepayment terms, and lender disclosure before signing.
Loan Calculator
Use this free loan calculator to estimate a fixed monthly payment, total paid, total interest, and payment count from loan amount, annual interest rate, and term.
Estimate, not advice Payment, total paid, and interest Example inputs Tab-only history
Formula steps
- Convert annual rate 9.5% to monthly rate 0.7916666667%.
- Use 48 monthly payments across 4 years.
- Apply the fixed-payment amortization formula to estimate the monthly payment.
- Total interest equals total paid minus principal.
How to use the Loan Calculator
- Enter the requested dollar amounts, rates, terms, tax settings, or contribution details.
- Use rates as percentages, such as 6.5 for 6.5%, and check whether a field asks for a monthly or annual amount.
- Press the calculate button to see the answer, supporting metrics, and formula steps.
- Use the result as a planning estimate only, then copy it if the assumptions look right.
What people use it for
Estimate payments for personal loans, student loans, or other fixed-payment debt.
Compare different loan terms before choosing a repayment plan.
See the total interest cost behind a monthly payment.
Use the result as a baseline before checking an amortization table or written loan offer.
Quick examples
Personal loan
$12,000 at 9.5% for 4 yearsAbout $301.48/month and $2,470.93 interest
Large loan
$50,000 at 7% for 6 yearsAbout $852.45/month and $11,376.42 interest
Zero interest
$3,000 at 0% for 12 months$250/month with no interest before fees
Need the guide or a nearby tool?
Need a slower walkthrough, a related calculator, or the full library? These links keep you close to the task you started.
- How to use the Loan Calculator See slower examples, input meanings, formula notes, result limits, and mistakes to avoid.
- Finance Browse related calculators and utilities in the same category.
- Calculator and utility guides Find more guides that use real tool inputs and example numbers.
- All free tools Search every live tool, converter, calculator, AI helper, and browser utility.
Frequently asked questions
Plain-language answers about when to use the estimate, what your numbers mean, what is left out, and how privacy works.
When should I use the Loan Calculator?
Use it when you want to test the exact inputs on this page: Estimate payments for personal loans, student loans, or other fixed-payment debt. Compare different loan terms before choosing a repayment plan. The result is a check against your assumptions, not proof that a lender, tax app, broker, platform, or provider will use the same number.
What do the main Loan Calculator inputs mean?
Loan amount means the principal you plan to borrow before fees or add-ons. Interest rate means the yearly contract rate used for payment math, entered as 9.5 for 9.5%. Loan term means how long repayment lasts. Four years means 48 monthly payments.
How does the Loan Calculator find the monthly payment?
It converts the annual interest rate into a monthly rate, turns the term into monthly payments, then uses the fixed-payment amortization formula. For $12,000 at 9.5% over 4 years, that works out to about $301.48 per month before any fees.
Why should I look at total interest?
The monthly payment can hide the real cost. A longer term can make the payment smaller while adding more interest. Total interest shows how much extra money is paid above the original loan amount if the rate and payment stay fixed.
Should I enter interest rate or APR?
Use the contract interest rate for basic payment math. APR can include certain fees, so CFPB says it is useful for comparing offers, but this simple calculator cannot know every fee unless the loan terms give you a clean rate to enter.
Does this include lender fees?
No. Origination fees, finance charges, application fees, late fees, insurance, taxes, and prepayment penalties are not included. Check the written offer, Truth in Lending disclosure, or Loan Estimate before signing.
Does this create an amortization table?
This page gives the quick monthly payment, total paid, and total interest. Use the Amortization Calculator when you want the month-by-month split between principal, interest, and remaining balance.
Can I use this for a 0% loan?
Yes. If the rate is 0%, the calculator divides the principal by the number of payments. A $3,000 loan over 12 months is $250 per month before fees or penalties.
Is the result a loan approval?
No. Approval can depend on credit, income, debt-to-income ratio, collateral, documents, lender rules, and the exact offer. This page only estimates payment math from the numbers you type.
What is the Loan Calculator doing with my numbers?
In plain language: The calculator uses the standard amortized loan payment formula: payment equals principal times monthly rate times growth factor divided by growth factor minus one. It assumes a fixed rate, monthly payments, and no added fees. It does not solve an official APR disclosure or read the lender contract.
How should I read the Loan Calculator answer?
Start with the monthly payment, then check total paid and total interest. If the payment looks easy but total interest is high, test a shorter term or lower rate before trusting the first scenario.
What does this estimate leave out?
This is fixed-rate payment math only. It is not a lender quote, APR disclosure, approval decision, payoff statement, or Loan Estimate, and it does not include fees, taxes, insurance, prepayment penalties, late fees, variable-rate changes, or lender-specific rounding. Use an official lender disclosure for APR, finance charge, amount financed, total of payments, late fees, prepayment penalties, taxes, insurance, and approval conditions.
What should I double-check before copying the result?
Compare the estimate with the written loan offer, APR, fees, payment schedule, prepayment terms, and any Loan Estimate or Truth in Lending disclosure that applies.
Does the site save my finance inputs?
No. The calculator runs in your browser tab. Recent answers stay only on the page while you use it, and they are not sent to a server.