ToolVaults

Loan Calculator

Calculate monthly loan payments and total interest for any amount, rate, and term. See how much you save by adding extra payments.

Runs 100% in your browser — nothing is uploaded.
Monthly payment
$400.76
Total interest paid
$4,045.54
Total paid
$24,045.54

How to use

  1. 1
    Enter loan amount, rate, and term

    The principal you borrowed, the APR, and how long you're paying it back.

  2. 2
    See the base monthly payment

    Standard amortization: same amount every month; more interest early, more principal later.

  3. 3
    Add an extra monthly payment

    Even $50/month can save thousands. The comparison box shows exactly how much.

  4. 4
    Read the savings summary

    New payoff date, months saved, and total interest saved by pre-paying.

Examples

$25,000 · 7% · 5-year auto loan
Input
Principal $25,000 · Rate 7% · Term 60 months
Output
Monthly: $495.03 · Total interest: $4,702
Standard mid-range auto loan payment.
Same loan with $100/month extra
Input
Above + $100/month extra
Output
New payoff: 49 months (11 saved) · Interest saved: $848
$100 × 60 = $6,000 in extra outflow, but you save $848 in interest AND finish 11 months early.
$40,000 student loan · 5.5% · 10 years
Input
Principal $40,000 · Rate 5.5% · Term 120 months
Output
Monthly: $434.11 · Total interest: $12,093
Doubles the burden vs a 5-year term but keeps monthly cost manageable.

Frequently asked

How is this different from the Mortgage Calculator?

Same underlying math (standard amortization), but the Mortgage tool surfaces the year-by-year schedule and property-specific caveats. The Loan tool focuses on any general loan and highlights extra-payment savings.

What does "extra monthly" do?

Adds that amount to every scheduled payment. Each dollar goes 100% to principal, shortening the term and reducing lifetime interest. The tool shows exactly how much you'd save.

Does it apply to credit cards?

The math applies to any fixed-rate installment loan. Credit cards typically use minimum-payment formulas that are more complex — this tool is best for personal loans, auto loans, and student loans.

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