Loan Payment Calculator – Quick and easy!


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Calculate The Monthly Payment On Your Loan

What would my loan payments be?

Additional Information

Measuring the Cost of Money

Interest is the charge added to a loan that makes up the cost of money. Interest is usually expressed as a percentage of the loan principal. The principal is the original amount of the loan. The interest rate tells you what percentage of the unpaid loan will be charged each period. The period is usually a year but may be any agreed-upon time. Here is how it works. Let’s say you loan your friend $100 at 5% annual interest. At the end of a year the period you should receive $105, or $100 of principal and $5 interest. Simple, isn’t it?

Let’s say your friend doesn’t repay the $100 principal, but pays you only the $5 interest; then the next year your friend will still owe you the $100 plus another $5 in interest. The preceding is an example of simple interest. Simple interest is the amount of money to be paid each period on a principal amount due.

Responsible Use Of Credit

While credit is very important to the economy, its abuse is harmful. Credit is extended with the faith that borrowers will repay the debt. Goods and services are provided on credit with the expectation that they will be paid for with money in the future. Credit makes commerce more convenient. When credit is abused, everyone loses. Credit abuse increases the cost of credit to everyone.

One should never use credit to purchase things for which one will not be able to pay in the future. Many impulse purchases are made on credit with little thought given to how the debt will be repaid in the future. If one calculated the true cost of goods bought on credit, one would have second thoughts about making the purchase in the first place. Here is an example: a new television flat-screen HDTV model retails for $5,000. If purchased on a credit card with a 12% annual percentage rate (APR) compounded daily, and with minimum monthly payments of $166 paid over three years, it winds up costing over $5,980. Is it worth almost $1,000 more to have it now (furthermore, the retail price in 3 years will probably drop)? That is like going into a store that advertised “SALE–ADD 20% TO EVERY PURCHASE.”

How Much Debt Can You Handle?

If you feel that you have too much debt, you are not alone. Most people have substantial debt; many have more than they can handle. However, debt is not all bad. Sometimes it makes sense to use borrowed money for investments. However, most folks are not using debt in that way; they are using it to make ordinary purchases of things they would probably be better off without, anyway. In our competitive society, spending has become a status symbol. This encourages people to spend more than they should — more than they have. Consequently, they run up tremendous debt.

While some debt is okay, too much debt is not. So, how do you know whether you have too much debt or not? First let’s look at the different kinds of debt we might incur.


Loan Interest Calculator


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Get this calculator for your site:

Loan Interest Formula:

Monthly Payment = PMT(Annual Interest Rate, Number of Years in Loan, Loan Amount, 0)

Loan Interest Definition

This free online Interest Calculator is so easy that almost anyone can use it and it s fast to boot! All you have to do to learn how to do interest calculations in a flash is just enter in the loan amount, interest rate, and the number of years the loan lasts. That s it! Who knew that using an Interest Calculator could be so easy and dare we say fun? Come on, nobody wants to do loan interest calculations longhand with a pencil and while using Microsoft Excel s formulas is a great deal easier than using a pencil and paper even that is a slow and antiquated interest calculation method compared to our free Interest Calculator online! Try it out now! Also, check out the Compound Interest Calculator  or the Extra Payment Calculator .

How to Calculate Loan Interest

Let’s be honest – sometimes the best loan interest calculator is the one that is easy to use and doesn’t require us to even know what the loan interest formula is in the first place! But if you want to know the exact formula for calculating loan interest then please check out the “Formula” box above.

Add a Free Loan Interest Calculator Widget to Your Site!

You can get a free online loan interest calculator for your website and you don’t even have to download the loan interest calculator – you can just copy and paste! The loan interest calculator exactly as you see it above is 100% free for you to use. If you want to customize the colors, size, and more to better fit your site, then pricing starts at just $29.99 for a one time purchase. Click the “Customize” button above to learn more!


Loan Calculator – The Calculator Site


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Loan Calculators

Calculate loan repayments with these loan calculators. The first calculator break downs monthly repayment figures for a secured or unsecured loan. The second calculator helps you work out how long it will take to pay off your loan, based upon the payments you are currently making. Explanations of formulae and terminology used in the loan calculators are available in the FAQ section at the bottom of the page.

Enter your loan repayment details.

Loan start date?

How long will it take to pay off my loan?

Whilst every effort has been made in building these loan payment calculators, I am not to be held liable for any special, incidental, indirect or consequential damages or monetary losses of any kind arising out of or in connection with the use of the calculator tools and information derived from the web site. These tools are here purely as a service to you, please use them at your own risk.

What is a secured loan?

A secured loan is a loan in which the borrower pledges an asset (e.g. a car or property) as collateral for the loan.

What is an unsecured loan?

Unsecured loans are monetary loans that are not secured against the borrower’s assets. These often take the form of credit card debt, personal loans, bank overdrafts, credit facilities or corporate bonds. You can find out more about the standard types of loan in our article, 5 of the most common bank loans and how they work .

What is a balloon payment?

A balloon payment is a large, lump-sum payment made at the end of a long-term loan. It is commonly used in car finance loans as a way of reducing monthly repayment figures. Be aware that once you reach the end of your loan period, that balloon amount becomes payable. More information about balloon payments is available in our article, What is a balloon payment?

What is the effective annual rate?

The effective annual rate is the actual interest rate that you pay on a loan if the loan is affected by compounding. This loan calculator compounds interest on a monthly basis.

What is APR?

APR stands for Annual Percentage Rate and is an important factor in determining the overall cost of a loan. You can use APR to compare different personal loan offers. When you arrange a loan with a finance company, their offer can include extra fees associated with the loan. The APR figure takes that information into account, giving you a simple percentage interest rate to allow you to compare and shop around. For information on interest rates and APR, see our article What is APR?


Loan Calculator Amortization Extra Payment


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Loan Calculator Amortization Extra Payment

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It isn’t an credit ratings solution.

Unsecured Installment Loans

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Loan calculator. Free download


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Free Loan Calculator

The Loan Calculator makes loans management and repayment a more predictable and informed process.

There could be times when it feels you are paying towards a loan without making any progress towards reducing the liability. This free and reliable software works out your repayment plan in order to work out a loan management plan. The loans that you need to manage are generally on your house, car or a loan taken to refinance an existing loan. These loans can span from varying time periods and this software takes care of all time spans be it one month or fifty years. The efficiency and reliability of the tool are least effected by the time period for which it is calculated. You get a fair idea of your loan repayment pattern in order to manage your finances accordingly. The input required by the program is basic loan information such as principle, interest rate, time span.

Loan Calculator defines great, targeted smallware that fills a need, and is an extremely easy-to-use program for calculating your mortgage amortization payments and optimizing your loan amortization schedule. Sure, I could set this up in Microsoft Excel, but Loan Calculator is simple and fast, while also exporting its results to Excel or HTML. It is distributed absolutely free of charge as an essential tool to help you estimate your loan payments on your home, car, or for refinancing. Just enter the loan amount, loan term and annual interest rate in and the program will generate a complete loan repayment plan. Loan Calculator also has an online version and supports regional currency settings and works with a wide range of repayment cycles from 1 month to 50 years.

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Loan Calculator, Free Loan Calculator, Loan Repayment Calculator


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Loan Calculator

Please note: Loan calculator assumes that the loan interest rate does not change with time. But that might be the actual case. If your rate changes, you can come here again and do your calculations again.

How will prepaying change my loan? [ Loan Prepayment Calculator ] This loan calculator takes a principal amount, interest rate, normal length of the loan and either how much total a month to pay or how long you want to pay.

Future Value or Annuity Calculator [ Annuity Calculator ] This loan calculator finds out how much to put away tax deferred to get a certain amount of money in the future, and how much you could expect to draw out of that money.

How much does that loan actually cost? [ APR Calculator ] You enter the interest rate of your loan, the points and costs and the loan amount. It figures the rest.

Convertible Balloon Mortgage Calculator [ Balloon Loan Calculator ] These days 5/25 and 7/23 convertible balloon mortgages are getting more popular since they provide lower rates than conventional 30 year mortgages while still giving a fixed payment schedule for 5 or more years.

Auto Loan Calculator [ Auto Loan Calculator ] This will do all your auto loan calculation with or without any down payment and for fixed period. So now you can know how much that new car or other auto is going to cost you in a loan.

Loan Calculators


Loan Amortization Calculator – A Free Online Loan Amortization Calculator With Data Table


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Loan Amortization Calculator

A Loan Amortization Calculator For Any Purpose

The loan amortization calculator is intended to show you how your loan will work month-by-month, including information about:

  • Your monthly payment
  • How much of your loan gets paid off each month
  • How much of your monthly payment goes to interest each month
  • How much you’ll owe on your loan at any point in time

The loan amortization calculator includes an amortization table for your reference.

For more details on the results of your calculation, read How Amortization Works. If you want to dig into the numbers even more deeply, find out Calculate Loans on Your Own.

Instructions

Fill in the required information related to your loan, and click the Calculate button. A table will appear below the loan amortization calculator with the information described above.

You may want to plug the loan amortization calculator’s output into Excel or another spreadsheet program so that you can work with the numbers even further (for example, you might calculate how much interest you’ll pay over the first 10 months of your loan). The best way to do this is to select the data starting outside (above, for example) of the table. Or, use a pre-built Excel loan calculator template.

The loan amortization calculator can be used for your auto loans, home loans, or any other straight-line amortized loans. It does not work with credit card loans or other revolving loans.