Loan Calculator

Plan your loan payments with precision

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Loan Details

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Payment Summary

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Loan Amount $50,000
Monthly Payment $566
Total Principal $50,000
Total Interest $17,920
Total Lump Sum Prepayments $0
Total Extra Monthly Payments $0
Total Interest Saved $0
Loan Term 10.0 years
Effective Interest Rate 6.72%
Principal Per $100 of Monthly Payment $88
Refinanced Monthly Payment -

Optional Features & Scenarios
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Enter details below to calculate how refinancing your loan would affect your payments and total interest.

Enter an additional amount to pay monthly towards your loan principal.

Lump Sum (1-3 Yr)

Lump Sum (4-6 Yr)

3-Year Refinancing

Extra Payments

Payment Schedule

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Year Principal Interest Extra Payments Lump Sum Remaining Balance

Loan Details Help

New Loan vs Existing Loan

New Loan: Use this tab when planning to take out a new loan. Enter the total loan amount, interest rate, and desired term.

Existing Loan: Use this tab for loans you already have. Enter your current remaining balance, interest rate, and current monthly payment.

Loan Amount / Remaining Balance

For new loans, this is the total amount you plan to borrow. For existing loans, this is your current outstanding balance.

Interest Rate

The annual interest rate for your loan. This affects how much interest you'll pay over the life of the loan.

Term

The length of your loan in years. Longer terms mean lower monthly payments but more total interest paid.

Payment Summary Help

Monthly Payment

Your required monthly payment amount. This covers both principal and interest.

Total Principal

The total amount of loan principal you'll pay over the life of the loan.

Total Interest

The total amount of interest you'll pay over the life of the loan.

Interest Saved

How much interest you save through extra payments and prepayments compared to the standard payment schedule.

Principal Per $100

How much of every $100 in monthly payments goes toward reducing the loan principal (vs. interest).

Optional Features Help

Lump Sum Prepayments

Make one-time extra payments toward your loan principal in specific years. This reduces your balance and saves interest.

Extra Monthly Payments

Add a fixed amount to your monthly payment that goes directly toward principal. Even small amounts can significantly reduce your total interest.

Refinancing

Calculate the impact of refinancing your loan to a new interest rate and/or term. Consider refinancing when rates drop or your credit improves.

Quick Scenarios

Pre-configured scenarios to quickly see the impact of common loan strategies like lump sum payments or refinancing.

Payment Schedule Help

Payment Schedule Table

Shows year-by-year breakdown of your loan payments, including how much goes to principal vs. interest each year.

Download Schedule

Download the complete payment schedule as a CSV file that you can open in Excel or Google Sheets for further analysis.