MegaCalcsBack to Home

Loan Calculator

Calculate loan payments, interest, and view amortization schedules

Loan Details
Enter your loan information to calculate payments

Personal Loan: Unsecured loan for personal expenses

Typical rate: 6-36% | Max term: 7 years

Loan Summary
Your loan payment breakdown

Enter your loan details and click "Calculate Loan" to see your results

How Loan Calculations Work

This loan calculator uses the standard amortization formula for calculating monthly loan payments:

M = P [ r(1 + r)^n ] / [ (1 + r)^n - 1 ]

Where:

  • M = Monthly payment
  • P = Principal loan amount
  • r = Monthly interest rate (annual rate ÷ 12)
  • n = Total number of payments

Loan Types:

  • Personal: Unsecured loans for personal expenses
  • Auto: Secured loans for vehicle purchases
  • Student: Loans for educational expenses
  • Business: Loans for business purposes