About This Calculator
The Loan Interest Calculator helps you estimate how much total interest you will pay on a fixed-rate loan. By entering your loan amount, annual interest rate, and loan term, you can easily calculate your monthly payment, total interest, and overall repayment amount.
For a full month-by-month breakdown, use an Amortization Calculator.
How to Use
- Enter your total loan amount.
- Provide the annual interest rate (APR) as a percentage.
- Select the loan term in years.
- Click "Calculate" to instantly view your monthly payment, total interest, and total amount paid.
Frequently Asked Questions
What does this calculator show?
It provides your fixed monthly payment amount, total interest cost, and total repayment amount over the loan period.
Does it work for all loan types?
This tool applies to fixed-rate loans such as personal loans, car loans, and mortgages with equal monthly payments.
What if I have a variable interest rate?
This tool assumes a fixed annual rate. For variable loans, results may differ.