- Enter the loan amount in your local currency.
- Enter the annual interest rate in percent and the loan term in months.
- Read your monthly payment, total interest and total payment, plus the converted monthly and daily rates, instantly.
Everything is calculated locally in your browser. No data is uploaded, so you can compare offers from different lenders freely.
Whether it is a car, a motorcycle, appliances or a personal loan, the monthly payment is the number that decides whether a deal fits your budget — and small differences in interest rates or terms hide big differences in total cost. Over a three-year loan, one percentage point can mean thousands in extra interest. This calculator turns any offer into three clear figures: what you pay each month, what the loan really costs, and how much of that is interest.
Tips
Compare offers on total cost, not just the monthly payment. A longer term lowers each payment but raises total interest, so check whether the convenience of a smaller payment is worth the price.
Use the rate conversion to spot-check marketing. Some dealers quote daily rates or “1 percent per month” figures that sound small; converting them to an annual rate reveals the true cost of borrowing and lets you compare directly against bank offers before signing.
Why use it
Loan arithmetic is exactly the kind of math that trips people up: it involves powers, compounding and several inputs, and the salesperson’s calculator is rarely impartial. Spreadsheets work but take time, and bank pages usually require personal details before showing a single number.
This tool is instant, private and free. It shows the payment, the interest and the converted rates side by side, updates live as you type, and works for any loan that uses the standard equal-payment structure. Know what a loan costs before you sign.
Real-world use cases
- Home buying: Estimate monthly payment and total interest before talking to a bank. Adjust years vs. rate to see the trade-off.
- Budgeting: Use percentage and discount calculators to quickly check sale prices while shopping.
- Planning: Workday and unit converters save time when coordinating across teams and regions.
How accurate is it?
Results use standard formulas with double-precision floats, matching Excel and banking calculators to within cents. Assumptions are shown in the note (e.g., monthly compounding). For legally binding totals, confirm with the provider because fees, insurance and rounding rules differ.
Pro tips
- For loans, compare equal-payment vs equal-principal: the latter starts higher but pays less interest overall.
- For fuel and discount math, keep one decimal extra while comparing options, then round for display.
- Save results with a screenshot or copy; everything is local so refreshing clears the form.