Calculate monthly loan repayments, total interest and the full amortisation schedule for mortgages, car loans and personal finance.
The Loan Calculator works out the monthly repayment, total interest paid and full amortisation schedule for mortgages, car loans and personal loans, based on the principal, interest rate and loan term you enter. It uses the standard amortisation formula so the figures match what a bank or lender would quote for a fixed-rate loan.
Everything is calculated instantly in the browser as you adjust the inputs, letting you compare different terms, rates or deposit amounts side by side without opening a spreadsheet. This makes it useful for anyone budgeting for a mortgage, weighing up a car finance offer, or checking a lender's numbers before signing.
Beyond the headline monthly payment, you can see how the balance of interest versus principal shifts with every payment across the full loan term, which is useful for understanding how extra payments would help.
The calculation uses the same P x r x (1+r)^n / ((1+r)^n - 1) formula lenders use, so the monthly payment figure lines up with quotes from banks and finance providers for a comparable fixed-rate loan.
Changing the term, rate or loan amount recalculates everything immediately, making it quick to compare a 15-year against a 30-year mortgage, or two competing loan offers.
The amortisation formula P x r x (1+r)^n / ((1+r)^n - 1) uses the principal P, the monthly interest rate r (the annual rate divided by 12), and the total number of monthly payments n. This produces a fixed payment amount that fully repays the loan, with interest, by the end of the term.
A shorter term means less time for interest to accrue on the outstanding balance, even though the monthly payment is higher. Cutting a 30-year mortgage down to 15 years, for example, typically cuts total interest paid by a large margin because the principal is repaid far faster.
This tool calculates interest and principal repayment only; it does not add property taxes, insurance, lender fees or variable-rate changes over time. For an adjustable-rate loan, treat the result as accurate for the current fixed rate period only.
With the amortisation formula P x r x (1+r)^n / ((1+r)^n - 1), where P is the principal, r the monthly interest rate and n the number of payments.
A great deal. Cutting a 30-year mortgage to 15 years raises the monthly payment but typically removes more than half of the total interest paid.
Yes. Loan Calculator on Klipza is completely free with no account, no subscription and no watermark on your files, and there is no daily usage limit.
Processing happens locally in your browser wherever technically possible, so your files are not uploaded to a server, stored or shared with third parties.
Yes. It is fully responsive and runs in any modern browser on Android, iPhone, iPad, Windows and macOS — nothing to install.