Loan calculator
See exactly what a loan will cost you. Type in the amount you want to borrow, the interest rate and how long you'll take to repay it — Lendwise gives you the monthly payment, the total interest, and a month-by-month breakdown instantly.
Loan details
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How to use the loan calculator
Enter what you're borrowing
Put in the loan amount and drag the slider or type an exact figure. It works for car loans, personal loans, student debt and business financing alike.
Set the rate and term
Add the APR your lender quoted and choose how many years or months you'll repay over. The results refresh the moment you change anything.
Read the real cost
Check the monthly payment, then scroll to the total interest. Add an extra monthly payment to watch how much sooner the balance clears.
Why estimate before you borrow?
Know the total, not just the payment
A low monthly payment can hide a large interest bill stretched over many years. Seeing the total repaid next to the amount borrowed helps you compare offers on the number that actually matters.
Your figures stay private
Every calculation happens on your own device. We never send your income, debts or loan details to a server, and there is no account to create. Close the tab and nothing is left behind.
Test "what if" in seconds
Nudge the rate up a point, shorten the term, or add $50 a month. The amortization table and totals update live, so you can find a plan you're comfortable with before you ever sign.
Understanding your loan
A loan is repaid through equal periodic payments in a process called amortization. Each payment is split two ways: part covers the interest that has built up on what you still owe, and the rest chips away at the principal — the original sum you borrowed. Early on, most of your payment goes to interest. As the balance shrinks, more of every payment starts reducing the principal, which is why progress speeds up toward the end.
How the monthly payment is worked out
The fixed payment comes from a standard amortization formula that uses three inputs: the principal, the monthly interest rate (your annual rate divided by twelve), and the number of monthly payments. The formula finds the single payment amount that reduces the balance to exactly zero on the final month. Change any one input and the payment moves — a higher rate or a longer term both raise the total interest you'll pay.
Why the term matters so much
Stretching a loan over more years lowers the monthly payment but usually increases the total interest, sometimes dramatically. A shorter term costs more each month yet far less overall. The calculator lets you see both sides at once so the trade-off is clear rather than hidden.
The power of an extra payment
Because interest is charged on the outstanding balance, any amount you pay above the required payment goes straight to principal and stops accruing interest for the rest of the loan. Even a small, consistent extra amount can shave months or years off the term and save a meaningful chunk of interest. Enter a figure in the "extra monthly payment" box to see your own numbers.
Frequently asked questions
Is this loan calculator accurate?
Yes. It uses the same fixed-rate amortization formula that banks and lenders use, so the monthly payment and total interest match what you'll see on a standard loan. Your own quote may differ slightly if the lender adds fees, insurance or a different compounding method.
What is APR and where do I find it?
APR (annual percentage rate) is the yearly cost of borrowing expressed as a percentage. Your lender must state it in any loan offer. Enter that figure here; the calculator converts it to a monthly rate for you.
Does it include fees or insurance?
No. This tool estimates principal and interest only. Origination fees, loan insurance and late charges vary by lender, so add them separately when comparing the true cost of two offers.
How does the extra payment work?
Any amount you enter is added to every monthly payment and applied entirely to the principal. Because interest is charged on the remaining balance, paying down principal faster reduces the interest you'll owe and clears the loan ahead of schedule.
Can I use it for a car or student loan?
Absolutely. Any loan with a fixed rate and equal monthly payments works — car loans, personal loans, student loans and small-business loans included. For a home loan, try our dedicated mortgage calculator, which also handles taxes and insurance.
Is my information saved anywhere?
Never. The calculator runs entirely in your browser with no server, no tracking of your inputs and no account. Everything you type stays on your device and disappears when you close the page.