How to use the calculator
- Loan amount — the total you’re borrowing.
- Interest rate — the annual percentage rate (APR) your lender quotes.
- Term — how many years you’ll repay over.
The results update instantly as you type, including a breakdown of principal vs interest for every year of the loan.
How monthly payments work
Your payment is fixed, but its makeup changes over time. Early on, most of each payment is interest; as the balance falls, more goes to principal. The amortization table shows exactly how that shift happens year by year — useful for seeing how much a shorter term or a lower rate could save you in total interest.
Tips to pay less interest
- Shorter term: higher monthly payment, but far less total interest.
- Lower rate: even a small reduction saves a lot over a long mortgage.
- Extra payments: paying a little more each month shrinks the principal faster.
Frequently asked questions
Is my data uploaded?
No — everything is calculated in your browser; nothing is sent anywhere.
Does it work for car loans and personal loans?
Yes — any fixed-rate amortizing loan. Just enter the amount, rate and term.
What currency is it in?
Any — it’s currency-neutral, so the results are in whatever currency you entered.
This tool is for general information only and is not financial advice.