Loan Calculator | calcu.online
Estimate loan payments, interest, and amortization schedules.
Calculator Inputs
Results
Enter loan details and click calculate to see your results.
How to Use the Loan Calculator
- Loan Amount: Enter the total amount of money you need to borrow.
- Annual Interest Rate: Input the annual percentage rate (APR) your lender is offering.
- Loan Term (Years): Specify the number of years you have to repay the loan.
Click "Calculate" to see your estimated monthly payment and a breakdown of total principal and interest paid over the life of the loan.
Frequently Asked Questions
What's the difference between interest rate and APR?
The interest rate is simply the cost of borrowing money. The Annual Percentage Rate (APR) provides a more complete picture, as it includes the interest rate plus other loan fees and costs. The APR is usually slightly higher than the interest rate.
How can I pay my loan off faster?
Making extra payments towards the principal is the most effective way. Even small additional amounts can significantly reduce the loan term and the total interest you pay over time. Consider using our Amortization Calculator to see the impact of extra payments.