Loan Calculator

The monthly payment on a $30,000 loan depends on the interest rate and repayment term. For example, at a 7% annual interest rate over 5 years, the monthly payment is approximately $594. Use our loan calculator above to enter your exact rate and term for a precise figure.

A $100,000 personal loan at 10% APR over 7 years results in a monthly payment of roughly $1,660. Shorter terms reduce total interest paid but increase your monthly obligation. Enter your loan amount, rate, and term in the calculator to see a full payment breakdown.

The rule of 78 is a method some lenders use to calculate how much interest you have paid at any point during a loan term. It front-loads interest charges, meaning you pay a larger share of the total interest in the early months. This can make early loan payoff more expensive compared to simple-interest loans.

Enter the loan principal (amount borrowed), the annual interest rate (APR), and the loan term in months or years to instantly see your estimated monthly payment and total interest cost. You can also compare scenarios by adjusting the term or down payment to find a repayment plan that fits your budget.

Our loan calculator works for any standard installment loan, including personal loans, auto loans, student loans, and mortgages. Simply input the relevant loan amount, interest rate, and term — the same calculation method applies across all loan types.

A longer loan term lowers your monthly payment but increases the total interest paid over the life of the loan. A shorter term means higher monthly payments but significantly less interest overall. Use the calculator to compare different terms side by side and find the right balance for your financial situation.

An amortization schedule is a complete table showing each monthly payment broken down into the principal and interest portions over the entire loan term. Early payments consist mostly of interest, while later payments apply more toward reducing the principal balance. Reviewing an amortization schedule helps you understand exactly how your loan is paid off over time.