🏦 Finance Calculator

Loan Calculator: The Complete Guide

Monthly payments and full amortisation schedule. Everything you need to know — plus a free tool to do it instantly.

What is loan?

This loan calculator uses the standard amortisation formula to compute your exact monthly payment and generates a full schedule showing how each payment splits between principal and interest. Use it for business loans, mortgages, equipment finance, vehicle finance, or personal loans. Understanding the amortisation schedule helps you plan prepayments to save on interest.

How it works

Enter the loan principal, annual interest rate, and loan term in years. The calculator instantly shows your monthly payment, total interest paid over the life of the loan, total repayment amount, and a month-by-month amortisation schedule for the first 12 months.

Why it matters

Most people focus only on the monthly payment — but the total interest paid can be 30–60% of the loan principal. Seeing the full amortisation helps you make better borrowing decisions and plan early repayments.

Common mistakes

Comparing loans only by monthly payment — always compare total interest cost
Not accounting for fees (origination fees, early repayment penalties) in the true cost
Borrowing for the maximum term to minimise payments — this maximises total interest paid

Best practices

Make even small extra principal payments — they have an outsized impact on total interest
Compare APR (not just interest rate) when shopping for loans
Fix your rate when rates are low; choose variable when rates are high and likely to fall

Ready to put this into practice?

Use the free Loan Calculator to create a real loan in under a minute — no signup, exports to PDF and Excel.

Open Loan tool