Loan Calculator
Universal loan calculator with monthly payment, amortization schedule, and total interest. This free online financial calculator runs entirely in your browser — no signup, no data sent anywhere.
Inputs
Results
Interactive Chart
Drag to pan, scroll to zoom, shift+drag to box-zoom. Combined view of balance, principal paid, interest paid, and total paid.
Amortization Schedule
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Click Calculate to generate the schedule. | ||||
How It Works (Formula & Method)
Standard installment loans use the same amortization math as a mortgage: each payment covers the interest on the remaining balance, with the rest reducing principal. The calculator generates a complete period-by-period schedule so you can see how the principal-to-interest ratio shifts as the loan matures.
Worked Example
Scenario: a $25,000 personal loan at 7.5% APR over 5 years, no extra payments.
- Monthly rate = 7.5% ÷ 12 = 0.625%.
- Number of payments = 5 × 12 = 60.
- Monthly payment = $25,000 × (0.00625 × 1.00625⁶⁰) ÷ (1.00625⁶⁰ − 1) ≈ $500.76.
- Total paid = $500.76 × 60 = $30,045.85.
- Total interest = $30,045.85 − $25,000 = $5,045.85 over the life of the loan.
Adding even $50/month in extra principal payments would shave roughly 6 months off the term and save about $385 in interest.
About the Loan Calculator
Use this general-purpose loan calculator for any amortizing fixed-rate loan — personal loans, signature loans, business loans, or any installment debt. It computes the monthly payment, total interest, and full amortization schedule, and lets you model the impact of extra payments.
Frequently Asked Questions
What is APR vs. interest rate?
The interest rate is what you pay on the principal. APR (Annual Percentage Rate) folds in fees and other costs to give a more apples-to-apples comparison between loans.
Are extra payments worth it?
Yes — every dollar of extra principal reduces the balance that future interest is charged on, snowballing your savings over time.
What does the Loan Calculator compute?
The Loan Calculator takes 4 input values and returns 4 results. Universal loan calculator with monthly payment, amortization schedule, and total interest.
Is my data sent to a server?
No. The Loan Calculator runs entirely in your browser using static JavaScript. Your inputs are never transmitted to CalculatorHive or any third party, and nothing is stored after you close the page.
Reviewed against: IRS publications, Consumer Financial Protection Bureau (consumerfinance.gov), and current published market data. Results are estimates for educational use only — not financial, tax, or legal advice.