QQuickKit

Loan Calculator

Calculate monthly loan payments, total interest and total repayment. Enter principal, annual interest rate and loan term in months.

About This Tool

Plan your borrowing before you commit. Enter the loan amount, annual interest rate and term in months to see your exact monthly repayment, total amount paid back and total interest charged. All calculations follow the standard amortisation formula used by banks worldwide.

Features

  • ✓Monthly Payment — Calculates the fixed monthly instalment using the standard amortisation formula.
  • ✓Total Interest — Shows exactly how much extra you pay over the full loan term.
  • ✓Principal / Interest Bar — Visual breakdown of principal vs interest in total repayment.
  • ✓Zero-interest Support — Correctly handles 0% interest rate (simple division).

FAQ

What formula is used?
Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1], where P = principal, r = monthly rate (annual rate ÷ 12), n = term in months. This is the standard amortisation formula.
Does this include fees or insurance?
No. The calculator gives the pure principal-plus-interest payment. Real-world loans may include processing fees, insurance, or other charges not reflected here.
Can I use it for mortgages?
Yes. Enter the mortgage amount as principal, the annual interest rate, and the term in months (e.g. 360 for a 30-year mortgage). The monthly payment result will match standard mortgage calculators.

Further Reading