πŸ“Š Loan Information

Enter the total loan amount
Enter annual interest rate
Enter loan term in years
Select the type of loan
Loan start date (optional)
How often payments are made

Calculating your loan payment...

πŸ“ˆ Loan Calculation Results

Enter your loan information above and click "Calculate Loan Payment" to see your results.

πŸ“Š Loan Visualization

Payment Breakdown

Amortization Schedule

About Loan Calculations

Understanding Loan Payments

Loan payments consist of two main components: principal and interest. The principal is the original amount borrowed, while interest is the cost of borrowing money.

  • Principal: The original loan amount
  • Interest: The cost of borrowing
  • Term: The repayment period
  • APR: Annual Percentage Rate

Types of Loans

Different loan types have different characteristics and requirements:

  • Personal Loans: Unsecured loans for personal expenses
  • Auto Loans: Secured loans for vehicle purchases
  • Business Loans: Funding for business operations
  • Home Loans: Mortgages for property purchases
  • Student Loans: Educational funding

Frequently Asked Questions

What is a loan calculator?

A loan calculator helps you estimate monthly payments, total interest costs, and create amortization schedules for different types of loans.

How is interest calculated on a loan?

Interest is typically calculated using the principal amount, interest rate, and loan term. Most loans use amortization, where early payments consist mostly of interest.

What factors affect my loan payment?

Key factors include loan amount, interest rate, loan term, payment frequency, and any additional fees or insurance requirements.