Loan Calculator
Work out the monthly payment on a loan from the amount, interest rate and term.
What a loan will actually cost you
A loan's monthly payment depends on three things — how much you borrow, the interest rate, and how long you take to repay — combined by a standard formula. This calculates the monthly payment and shows the total you will repay, so you can see the real cost of borrowing before you commit, not just the headline amount.
Enter the amount, rate and term to see the monthly payment and total cost.
The term is a hidden trade-off
The figure that surprises people is the total interest, and how much the term drives it. Stretching a loan over more years lowers the monthly payment, which feels easier, but you pay for far longer and the total interest can balloon. A shorter term costs more each month but far less overall. Seeing both figures side by side reveals that trade-off. This is a calculation of the numbers, not financial advice — whether a loan is wise for you is a separate question for your own judgement.
Questions & answers
Why does a longer loan term cost more overall?
Because you pay interest for longer. A longer term lowers the monthly payment but usually raises the total interest substantially.
What does the calculator show?
The monthly payment and the total amount repaid, so you can see the real cost of borrowing, not just the amount borrowed.
Is this financial advice?
No — it calculates the numbers. Whether a loan suits your situation is a separate decision for your own judgement.