Loan Calculator

 

Welcome to the Loan Calculator

Estimate your monthly loan payments and total repayment with our Free Loan Calculator. Whether you're planning a mortgage, car loan, personal loan, or any other type of installment loan, our calculator helps you understand your financial commitment.

How to Use:

1. Enter Loan Details:

   • Input the Loan Amount: Enter the total amount of the loan you intend to borrow.
   • Input the Interest Rate per year: Enter the annual interest rate for the loan (in percentage).
   • Input the Loan Term in Months: Enter the duration of the loan in years or months.

2. Calculate Loan Payments:

   • Click the "Calculate" button to instantly see your monthly payment and total repayment amount.

Features:

• User-Friendly Interface: Simple input fields for entering loan amount, interest rate, and loan term.
• Accurate Calculation: Calculates monthly payments using standard loan amortization formulas.
• Clear Results: Displays monthly payment amount, total repayment, and detailed amortization schedule if applicable.

Example:

• Loan Amount: $20,000

• Interest Rate: 5%

• Loan Term: 5 years (60 months)

• Monthly Payment: $377.42

• Total Repayment: $22,645.20

Practical Uses:

• Financial Planning: Estimate monthly budget for loan repayments.
• Comparison: Compare different loan options based on interest rates and terms.
• Decision Making: Make informed decisions about borrowing based on repayment schedules.

Ready to Calculate Your Loan Payments?

Start using our Free Loan Calculator now to plan your loan effectively.