utilkit

Loan Calculator

Estimate fixed-rate installment loan payments, total interest, payoff time, and extra payment savings.

Loan details

Fees and extra payments

Fees are added to the financed balance. Extra payments are applied to principal and can shorten the payoff time.

Interest saved with extra payments $0

Monthly payment

$0
Total interest
$0
Total cost of loan
$0
Payoff time
0 months
Payoff date
-
Total fees
$0

Cost breakdown

Total paid

Balance timeline

Standard payoff compared with extra payments

Payment mix

Principal and interest by year

Amortization preview

First 12 payments
Month Payment Principal Interest Extra Balance

Loan calculator for fixed-rate installment loans

Use this calculator to estimate monthly payments for personal loans, auto loans, debt consolidation loans, and other fixed-rate installment debt. Enter the loan amount, annual interest rate, and term to see the required payment, total interest, and payoff month.

Open fees and extra payments to include origination fees, other loan costs, or principal-only extra payments. The charts compare the regular payoff path with the accelerated path and show how each payment shifts from interest toward principal over time.

How to read the results

The monthly payment is the standard amortized payment required to repay the financed balance by the selected term. Total interest shows the interest cost under the current extra-payment settings, and total fees shows the upfront costs included in the balance.

Loan calculator FAQ

What types of loans does this work for?

It works best for fixed-rate installment loans with predictable monthly payments, such as many personal, auto, student, and debt consolidation loans.

Why is more interest paid early in the loan?

Interest is calculated from the remaining balance. Early in the term the balance is higher, so a larger share of each payment goes to interest.

Do extra payments reduce the required monthly payment?

This calculator applies extra payments to principal and keeps the regular payment the same, so the loan pays off sooner instead of recasting the monthly payment.

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