Loan Calculator

Why use Loan Calculator?

When you are borrowing money the first question that comes to your mind is “how much this loan is going to cost me”. Our free online loan calculator helps you calculate monthly payments, total interest and overall repayment amount. Whether you are student or professional and applying for Mortgage loan, car loan, student loan, personal loan or business loan; this loan calculator will give you clear insight of your loan commitments before you take a loan. Unlike simple loan calculators, this tool will not only provides you data for monthly installments but also it shows principle vs interest in graphical manners. This will gives you good insight on how this loan is going to effect your daily budget.

You can find other types of calculator below:

Interest Calculator
Loan Calculator
Percentage Calculator
GPA Calculator
Body Fat Calculator
GPA Calculator

How to use this Loan calculator

Sometimes its difficult to understand the real meaning of loan. Many different terms used in this field often confuses borrower like APR Annual Percentage Rate, Term length, Principal or compounding etc. This online Loan Calculator will simplify everything for you so that you should know what is:

Loan amount (principal): It is the amount which you borrow.
APR or Interest Rate: This is what the lender is going to charge you on yearly basis.
Loan Term: It is the time which you take to repay the loan.
Payment Frequency: This frequency is based on Monthly, Quarterly or Yearly basis etc.
Once you enter these details in the online loan calculator then you will be able to know how much you need to pay per month. What is the total cost of the loan and how much payment goes towards Principal vs interest.

How Loan Is calculated

The formula behind calculation of loan is based on amortization method:
Payment= p x r/1-(1+r)-n

Where:

n = Total number of payments (years × 12)

P = Loan principal (amount borrowed)

r = Monthly interest rate (APR ÷ 12)

What Type of Loans you can Calculate with this calculator

Personal Loan Calculator

Whether you want to take loan for your home renovation, medical expenses, or debt repayment; this online loan calculator is great for helping you with the amount you need to borrow. You can also use home equity loan calculator for calculation of home equity etc.

Car Loan Calculator

In case you want to buy new or used car, you just need to enter loan amount, APR and terms to see how much you need to pay for you car.

Mortgage Loan Calculator

Since Mortgage is long term commitment and this Mortgage loan calculator will help you to estimate monthly mortgage payment over many years.

Student Loan Calculator

Student loans also spans over period of decade. This Online student loan calculator will help you calculate your monthly installments and total loan paid.

Business Loan Calculator

For business people, business loan calculator will help you to know how much monthly repayment will help you with cast flow and profitability projects.

Benefits of this Online Loan Calculator

This online loan calculator will help you with better planning, compare different lenders, efficient decision making, avoid surprises and retirement & debt management.