Loan Calculator
Work out your monthly payment, total interest and a full amortization schedule. Supports optional extra monthly payments.
Amortization Schedule
| # | Date | Payment | Principal | Interest | Extra | Balance |
|---|
Loan Calculator FAQ
How is the monthly payment calculated?
For fixed-rate loans we use the standard formula: Payment = P · r / (1 − (1 + r)−n), where P is principal, r is monthly rate (APR/12), and n is number of payments.
What do extra payments do?
Extra monthly payments are applied directly to principal after the required interest is paid, reducing total interest and shortening the payoff time.
Loan Calculator – Estimate Monthly Payments & Interest
Use this free loan calculator to estimate your monthly payment, total interest cost, and complete loan amortization schedule for any fixed–rate loan. Whether you are planning a home loan, personal loan, auto loan, or business finance, this tool works like a smart loan payment calculator and interest calculator in one place. Just enter the loan amount, APR, term and optional extra payments to instantly see how much you’ll pay every month and how quickly you can become debt-free.
What you can calculate with this loan payment calculator
Our calculator is designed to be flexible, so you can compare different offers and repayment options. It also helps you understand the true cost of credit, not just the advertised rate.
1. Monthly payment & EMI
Instantly compute your fixed monthly payment or EMI based on loan amount, APR and term. This works like a personal loan EMI calculator or car loan calculator for any fixed-rate loan.
2. Full amortization schedule
Generate a detailed loan amortization chart showing every payment, including how much goes to interest vs. principal and the remaining balance after each month.
3. Total interest & payoff date
See the total interest you will pay over the life of the loan and the exact payoff date, so you can compare different loan repayment schedules side by side.
4. Impact of extra payments
Use the extra payment field as an extra payments calculator. Even a small extra monthly amount can save months or years off your term and reduce interest dramatically.
When to use a mortgage or home loan calculator
Planning to buy a house or refinance an existing loan? For real-estate scenarios, it’s helpful to combine this loan calculator with a dedicated mortgage calculator or home loan calculator. Those tools can include extra factors like property tax, insurance and HOA fees, while this page focuses on the core principal-and-interest payment.
Related tools on Mr Jungle Book
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Loan Calculator FAQ
How is the monthly loan payment calculated?
The calculator uses the standard amortization formula based on the loan amount, annual percentage rate (APR) and term. It assumes a fixed interest rate and equal monthly payments, which is how most personal loans, home loans and car loans are structured.
How do extra monthly payments reduce interest?
Extra payments are applied directly to the principal balance. Because future interest is calculated on a smaller balance, you pay less interest over time and shorten your payoff period. Our extra payments calculator mode shows exactly how many months and how much interest you can save.
What types of loans can I calculate?
You can use this tool for almost any fixed-rate borrowing: personal loans, salary loans, auto loans, student loans, business loans, and even basic mortgage estimates. For more advanced home loan breakdowns, pair it with a dedicated mortgage calculator or home loan calculator.
Can I generate a full loan amortization schedule?
Yes. After you enter your information and click “Calculate”, the tool can show a full amortization calculator style table with every payment, how much goes to interest vs. principal, and the remaining balance each month until the loan is fully repaid.