Work out the monthly payment and total interest on any fixed-rate loan — a personal loan, car finance or business loan — from the amount, annual rate and term.
Enter the amount you want to borrow, the annual interest rate and how long you'll take to repay. The calculator shows your monthly payment, the total interest and a full year-by-year breakdown.
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Use the Loan Calculator to turn a loan amount, rate and term into a clear monthly payment. It uses the same amortization formula as a mortgage, so it works for car loans, personal loans and any fixed instalment credit.
M = P × r(1+r)n / ((1+r)n − 1), where P is the principal, r the monthly rate and n the number of payments. Shorter terms mean higher payments but far less interest.
No. Origination fees, early-settlement charges and payment protection are not included. Add their cost to the principal for a conservative estimate.
This calculator assumes a fixed rate for the whole term. Variable-rate loans can cost more or less if the rate changes.