Loan Calculator

Calculate your monthly loan payments, total interest, and view an amortization schedule

Loan Details
Enter the loan amount, interest rate, and term

Monthly Payment

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Total Interest

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Total Payment

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Payment Breakdown Over Time
See how your payments are divided between principal and interest
Amortization Schedule
Detailed breakdown of your loan payments over time
MonthPaymentPrincipalInterestRemaining Balance
Tips for Managing Your Loan
  1. Make Extra Payments: Even small extra payments can significantly reduce your total interest and shorten the loan term.
  2. Pay Bi-Weekly: Making half payments every two weeks results in 13 full payments per year instead of 12.
  3. Round Up Payments: Round your monthly payment up to the nearest hundred to pay off your loan faster.
  4. Refinance When Rates Drop: If interest rates decrease significantly, consider refinancing to save money.
  5. Avoid Prepayment Penalties: Check your loan terms to ensure there are no penalties for early repayment.