🛠 Loan calculator (monthly payment)
🔒 Runs on your device; your file is not sent to any server.
How to use this tool
- Enter the "Loan amount".
- Enter the "Annual interest rate %", for example 18.5.
- Enter the "Term in years".
- Click "Calculate" to see the monthly payment, total paid and total interest.
What you can use it for
- Compare a 3-year and a 5-year term to see the difference in interest.
- Check how much of your salary a payment would take before accepting a job in a new city.
- Estimate instalments for a car or appliance.
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FAQ
What method does it use?
A standard fixed monthly payment on a reducing balance. Some lenders use a "flat rate" on the full amount, which gives a different figure.
Why did my bank quote a different number?
Banks add admin fees, insurance and commissions, and may calculate interest differently. Rely on the bank's written offer.
Can I enter 0% interest?
Yes. The payment is then simply the amount divided by the number of months.
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