🏦 Loan Calculator
Calculate monthly payments, total interest, and see your loan breakdown.
Loan Details
Payment Breakdown
Understanding Loan Payments
Your monthly payment is calculated using the standard amortization formula. Each payment includes both principal (the amount you borrowed) and interest (the cost of borrowing). Early in the loan, most of your payment goes toward interest. Over time, more goes toward principal.
Common Loan Types
Home loans typically 15-30 years. Rates vary by credit score and down payment.
Car loans typically 3-7 years. New cars often have lower rates than used.
Unsecured loans for any purpose. Higher rates but more flexible terms.
💡 Tip: Extra Payments
Even small extra payments toward principal can save thousands in interest and shorten your loan term significantly.