Free Loan Calculator – Fast Payment Estimates

Calculate monthly repayments, total cost and interest for any personal or business loan. Choose amount, APR and term with clear formulas and a worked example.

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⚠️ Advisory only: This tool provides estimates for guidance. For financial advice, speak to a qualified professional.

Cinematic 3D illustration of a man holding a calculator and house model, with floating icons for loan amount and APR, promoting a free loan calculator.

Loan Calculator

Fees are paid upfront.
Reset

Your payment will appear here

Enter loan details and select Calculate.

Why Use This Loan Calculator?

Instant, lightweight, and shareable

No sign-ups. Results update as you type.

Payment schedule

See totals, interest and remaining balance.

Any loan type

Personal, education, small business — fixed APR and term.

Shareable

Copy a link that preserves your inputs and result.

How to Use This Loan Calculator

1

Enter your loan amount

That’s your principal (PV).

2

Choose APR and loan term

APR (annual %) and years/months.

3

View your payment schedule

Monthly payment, totals and schedule.

How to Use This Loan Calculator

  • Keep APR and term realistic for today’s market.
  • If available, choose payment frequency (monthly by default).
  • Change one input at a time to see the impact.
  • Fees and insurance aren’t included unless your widget adds them.

How Loan Payments Work

Most fixed-rate loans use amortization: each payment includes interest on the remaining balance and principal that reduces that balance. Early payments are interest-heavy; later payments are principal-heavy. Rate (APR) and term determine the payment and total interest.

 Formulas Used with Worked Example

  • Monthly rate: r = APR / 12
  • Monthly payment (PMT): PMT = r × PV / (1 − (1 + r)−n)
  • Balance after k payments: Bk = PV(1+r)k − PMT × ((1+r)k − 1)/r
  • Total paid / interest: Total = PMT × n ; Interest = Total − PV

Worked example: PV £10,000; APR 12% → r 0.12/12; term 3 years → n 36. Payment PMT ≈ £332.14/mo. Total paid ≈ £11,957.15; total interest ≈ £1,957.15. Balance after 12 payments ≈ £7,055.84. (Rounded.)

Assumptions: Fixed rate, equal monthly payments, excludes taxes/fees/insurance unless added in your widget.

Loan Calculator FAQs

We use standard amortization formulas. Real offers vary with fees, credit history, loan type and rate changes. Always verify with a lender.

APR includes some costs to reflect the loan’s annual cost; a nominal rate may exclude them. Use APR for apples-to-apples comparisons.

This version focuses on principal and interest. If your widget supports extra fields, enable them; otherwise add those amounts separately.

Yes. Regular or one-off overpayments reduce the balance faster, cutting total interest and term. Check your lender’s overpayment rules and fees.

Fixed keeps payments stable for a set period. Variable/trackers can move up or down with the market. This calculator assumes a fixed monthly rate.

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What Our Clients Say About This Tool

Overall Rating
5.0/5 3 reviews
Priya

This estimator feels like a mini financial advisor. It’s incredibly helpful for first-time buyers to understand their limits. The income-to-debt ratio logic is spot on.

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Dhruv

This tool is a lifesaver for budgeting. It’s intuitive and gives a clear breakdown of monthly payments. I especially like the amortization summary—it’s great for planning long-term.

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Rohan

Simple, fast, and accurate. The BMI Calculator gives instant results with clear health categorization. I appreciate the clean layout and mobile responsiveness—it’s perfect for quick checks on the go

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⚠️ All services are offered on an advisory basis only. We do not act as legal, immigration, or financial representatives, and we do not guarantee outcomes. Any actions or applications taken based on our guidance are the sole responsibility of the individual.