Loan Calculator

Calculate your monthly loan payment, total payment, and total interest for any type of loan.

About Loan Calculator

This free loan calculator uses the standard PMT formula to compute your monthly payment for any loan — car loan, personal loan, student loan, or equipment financing. It breaks down the total cost of the loan including all interest, so you can see the full picture before borrowing.

Monthly Payment Breakdown

Know exactly what your monthly payment will be before you sign any loan agreement.

Total Interest Shown

See the total interest cost over the full life of the loan, not just the monthly payment.

Any Loan Type

Works for auto loans, personal loans, student loans, business loans, and more.

Amortization Ready

Uses the industry-standard PMT formula for results you can trust and compare with lenders.

📋 Common Use Cases

Compare Loan Offers

Run multiple scenarios with different interest rates, terms, and down payments. See which lender offer saves you the most money over the full loan period.

Budget for a Major Purchase

Before visiting a dealership or lender, calculate what monthly payment fits your budget. Walk in prepared with realistic numbers and loan terms.

Plan Early Payoff Strategies

Test how extra monthly payments or lump-sum contributions shorten your loan term and reduce total interest paid. Find the fastest path to debt freedom.

Understand Amortization

See exactly how each payment splits between principal and interest over time. Use the amortization schedule to plan refinancing or early payoff decisions.

🪜 How to Use This Tool

  1. Enter the loan details
    Fill in the loan amount, interest rate, and loan term. Some calculators also accept down payment, taxes, and insurance for a complete payment picture.
  2. Adjust advanced settings
    Toggle extra payments, choose payment frequency, or add fees to see how each factor changes your total cost and payoff timeline.
  3. Review payment breakdown
    Your monthly payment, total interest, and total cost appear instantly. Check the amortization table to see how each payment reduces your principal balance.
  4. Export or compare scenarios
    Note your results or run additional scenarios with different inputs. Comparing multiple loan structures helps you negotiate better terms.

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Frequently Asked Questions

Are these calculators really free?▼
Yes. All calculators on iluv.tools are completely free. No signup, no account, no credit card required. Every calculation runs instantly in your browser.
Is my data sent anywhere?▼
Absolutely not. All calculators are pure client-side JavaScript. Your numbers, dates, and inputs never leave your browser. No server processing, no tracking.
How accurate are these calculators?▼
Calculators use standard mathematical formulas with double-precision floating point. Results match industry-standard financial and scientific calculations.
Can I use calculators on mobile?▼
Yes. All calculators work on mobile browsers (iOS Safari, Android Chrome) with responsive layouts.