Loan CalculatorFinancial Dictionary -> Loan Calculator
The Loan Calculator below can be used to calculate your monthly loan payments and interest fees for variety of loans including but not limited to car loans, personal loans, mortgage loans and credit card loans. The loan calculator requires 3 inputs in order to calculate the loan payments. The Loan Amount input is the total amount you are borrowing, also know as the loan principal. The Interest Rate input is the loan yearly interest rate. The third input is the loan term in months.
Once you enter the required inputs and click the Calculate button you'll get 3 results. The first one is your monthly payment (principal + interest). The second one is the amount of interest you'll pay in total for borrowing the money from the lender. The third result is the sum of the principal and the interest, which shows how much you will pay to the lender in total for the entire loan term.
Things to keep in mind:
1. The above calculations assume constant interest rate during the life of the loan and compound the interest monthly.
2. We do not offer financial advice and we do not guarantee the accuracy of the above calculations. You should not rely on this calculator alone for estimating your loan payments and interest fees.