Loan Calculator

Calculate loan payments, total interest and payoff schedule for any loan.

Loan Term

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How it works

Same amortization math as a mortgage, framed for any fixed-rate loan: car loan, personal loan, student loan refinance, small-business loan. You enter loan amount, annual rate, and term in months or years; the calculator returns monthly payment, total amount paid, and total interest. The pie chart shows the principal-to-interest split visually — short loans at low rates are almost entirely principal; long loans at high rates can be more than half interest.


              M = P × (r × (1+r)^n) / ((1+r)^n − 1)
// Zero-rate edge case: M = P / n
totalPaid = M × n
totalInterest = totalPaid − P

Common use cases

  • Comparing dealer financing vs bank financing on the same car purchase.
  • Choosing between a 36-month and 60-month auto loan term.
  • Evaluating a debt consolidation loan against your current credit card APRs.

See also: Mortgage Calculator , Percentage Calculator .

Frequently asked questions

How is this different from the mortgage calculator?

Math is identical — both use the standard fixed-rate amortization formula. The loan calculator is framed for shorter loans (auto, personal) without down payment / home price inputs, and shows a principal-vs-interest pie chart instead of a year-by-year schedule.

What's a reasonable interest rate?

Rough 2026 ranges (US): 7–9% for new car loans (good credit), 10–15% for personal loans, 5–7% for student loan refinance. Rates depend heavily on credit score, term length, and lender — shop at least three quotes.

Should I take a longer term to reduce monthly payment?

Longer term = lower monthly payment but more total interest. A 60-month loan at 8% costs about 27% more in total than a 36-month loan at the same rate. Use the shortest term you can afford.

Why does the pie chart sometimes show interest larger than principal?

When rate is high or term is long enough, total interest exceeds the loan amount. Example: $20k at 12% over 60 months → $4,672 interest on $20k principal (~19%). At 60 months @ 25% → $9,400 interest (~32%). Long high-rate loans get expensive fast.

Embed this tool

Add this free loan calculator to your own website or blog — copy the code below and paste it into your page HTML. No signup, no API key. 

<iframe src="https://otoolrun.com/embed/loan-calculator/" width="100%" height="560" style="border:0;border-radius:12px" loading="lazy" title="Loan Calculator"></iframe>
<p style="font-size:14px"><a href="https://otoolrun.com/tools/loan-calculator/">Loan Calculator by oToolRun</a></p>