Zoven

Loan Calculator

Calculate monthly loan payments, interest, and amortization

What is the Loan Calculator?

The loan works like this: it computes the fixed monthly payment, total interest and full amortization schedule for an amortizing loan using the standard annuity formula. Everything happens on your device - the input never leaves your tab unless the tool clearly states it performs a server-side lookup.

How to use the Loan Calculator

1. Enter the values the calculator asks for.
2. Double-check the unit or period next to each field (per month vs per year, cm vs m).
3. Read the result together with the breakdown shown beneath it.
4. Adjust one input at a time to compare scenarios side by side.

Features

• Calculate monthly loan payments, interest, and amortization
• Instant result, no page reload
• Works in any modern browser, desktop or mobile
• Free with no signup

Common mistakes to avoid

• Mixing units or periods between fields
• Rounding inputs before the final calculation
• Treating estimates as guarantees for major decisions

Examples

Input	Result
1,000,000 at 12% annual for 5 years	Monthly payment 22,244.45 · total interest 334,667 · total repaid 1,334,667

Best used for

• Getting a reliable answer for loan without installing an app
• One-off tasks done in under a minute from any device
• Checking results before committing them to something important
• Working on a phone where desktop software is unavailable

Privacy

Calculations run in your browser. Enter only what the calculation needs.

Frequently asked questions

Why is the first payment mostly interest?

Interest accrues on the full outstanding balance, which is at its maximum at the start. As principal is repaid, each payment shifts further toward principal.

What is the formula?

Payment = P × r(1+r)^n / ((1+r)^n - 1), where r is the monthly rate (annual / 12) and n the number of payments.

Why does the amortization schedule matter?

It shows each payment split into interest and principal, making the real cost visible: early payments are mostly interest, and the curve only crosses toward principal in later years.

Does the monthly payment include fees or insurance?

No - it is pure principal and interest from the annuity formula. Add arrangement fees and insurance to the inputs of a full mortgage calculator to see the all-in cost.

More like this

Zoven offers 200+ free browser tools. Browse by category - Calculators, Converters, Generators, Developer Tools and Media Tools - or read workflow guides on the Zoven blog.