Loan calculator
Standard amortization payment, total interest, and a year-one schedule. Regional labels; same reducing-balance math.
Defaults to your region. Switch to compare any other scale.
Fixed payment, monthly compounding.
Result
$500.95
Monthly payment
- Total interest$5,056.92
- Total paid$30,056.92
- Payments60
First 12 payments
| No. | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $500.95 | $344.70 | $156.25 | $24,655.30 |
| 2 | $500.95 | $346.85 | $154.10 | $24,308.45 |
| 3 | $500.95 | $349.02 | $151.93 | $23,959.43 |
| 4 | $500.95 | $351.20 | $149.75 | $23,608.22 |
| 5 | $500.95 | $353.40 | $147.55 | $23,254.83 |
| 6 | $500.95 | $355.61 | $145.34 | $22,899.22 |
| 7 | $500.95 | $357.83 | $143.12 | $22,541.39 |
| 8 | $500.95 | $360.07 | $140.88 | $22,181.33 |
| 9 | $500.95 | $362.32 | $138.63 | $21,819.01 |
| 10 | $500.95 | $364.58 | $136.37 | $21,454.43 |
| 11 | $500.95 | $366.86 | $134.09 | $21,087.57 |
| 12 | $500.95 | $369.15 | $131.80 | $20,718.42 |
About this tool
A loan calculator turns principal, annual rate, and term into a fixed monthly payment using standard amortization (reducing balance). You also see total interest and a first-year schedule of principal versus interest.
Regional presets label US, German annuity, Indian EMI, and Japanese equal-payment conventions without changing the core algebra. Fees, insurance, and variable rates are out of scope unless you fold them into the inputs yourself.
Housing with tax/insurance extras belongs on the mortgage page; India-focused EMI wording also lives on the EMI calculator.
Formula
M = P × [r(1+r)^n] ÷ [(1+r)^n − 1]r = annual rate ÷ 12, n = years × 12
How it is calculated
- Enter principal, annual interest, and term.
- Monthly rate r = APR/12; n = months.
- Payment is the annuity formula; leftover is interest.
- If your country, school or provider uses different rules, pick another option in the “Standard” menu at the top.
Questions
Is Indian EMI a different formula?
Reducing-balance EMI used by Indian banks is the same amortization equation. Processing fees and GST on charges are extra — use the EMI page to add them.
When should I change the “Standard” setting?
When the rules you work with differ from the default chosen for your language. Options on this page: US amortization; German annuity loan; India reducing-balance EMI; Japan equal-payment. The formula, steps and result update to match your choice.
Are the results official advice?
No. Calculate This is an educational tool. Before a financial or tax decision, check the figures with your bank, the tax authority or a qualified adviser.