Free online tool
Loan Payment Calculator
Compare estimated payments, interest and total paid using the rate and term you define.
What this tool does
The Loan Payment Calculator compares a simple estimate using fixed payments or declining principal payments. It shows how term and rate affect payments and total cost.
The tool does not query banks and does not include insurance, fees, taxes or contract rules. Use it as an initial estimate and confirm real conditions with the lender.
How to use
- Enter the loan amount.
- Choose term, annual rate and method.
- See estimated payment, interest and total paid.
Common uses
- simulate a loan
- compare fixed and declining payments
- estimate monthly payment
- see total cost
Privacy and local processing
The calculation is done in the browser. Values entered are not sent to Texteme.