Plan your payments. Calculate Student Loans, Car Loans, or Personal Loans. See total interest and payoff dates instantly.
Taking out a loan is a big financial commitment. Whether it's for university tuition, a new car, or home improvements, knowing exactly what your monthly obligation will be is crucial for budgeting. Our Free Loan Calculator uses standard amortization formulas to give you a clear picture of your repayment plan.
If you are calculating student loans, remember that federal loans often have different repayment options (like income-driven plans) than private loans. Use this calculator to estimate the standard 10-year repayment plan.
| Loan Type | Typical Term | Avg. Rate (Est.) |
|---|---|---|
| Federal Student | 10 Years | 3% - 7% |
| Private Student | 5 - 15 Years | 4% - 12% |
| Auto Loan | 3 - 6 Years | 4% - 10% |
See the impact of interest rates instantly.
Extending a loan term from 5 years to 10 years might lower your monthly payment, but it can double the amount of interest you pay. Use the calculator to find the sweet spot between an affordable monthly payment and the lowest total cost.
Visualize total interest paid.
No. This calculator focuses on Principal and Interest only. For mortgages, you would also need to account for property taxes and insurance.
Currently, this tool calculates the standard fixed monthly payment. Making extra payments will shorten your loan term and reduce total interest.