Calculate your monthly loan payments, total interest paid, and full amortization schedule for any loan amount, interest rate, and term.
Loan Summary
Monthly payment
$311.06
for 36 months
Total payment
$11,198.24
Total interest
$1,198.24
Interest rate
7.5%
How this is calculated
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| Year 1 | $3,732.75 | $3,087.44 | $645.30 | $6,912.56 |
| Year 2 | $3,732.75 | $3,327.13 | $405.62 | $3,585.42 |
| Year 3 | $3,732.75 | $3,585.42 | $147.32 | $0.00 |
A loan calculator helps you quickly determine your monthly repayment amount, total interest paid, and the full cost of borrowing — before you sign any agreement. Whether you are taking out a personal loan, auto loan, or any other type of instalment credit in [GEO], this free tool gives you an instant, accurate breakdown using the standard EMI formula.
Enter the loan amount, annual interest rate, and loan term in months or years. The calculator instantly computes your fixed monthly payment using the standard amortisation formula. You can also view a full amortisation schedule showing exactly how much of each payment goes toward principal versus interest over the life of the loan.
For example, a loan of $10,000 at 7.5% interest over 36 months results in a monthly payment of approximately $311. Over the full term you will pay around $1,196 in interest, making the total cost of the loan $11,196.
Monthly payment = P × r(1+r)ⁿ / ((1+r)ⁿ−1), where P is the principal, r is the monthly interest rate, and n is the number of monthly payments.
Yes — this calculator works for personal loans, auto loans, student loans, and any other fixed-rate instalment loan.
No — it calculates principal and interest only. Add any origination fees or insurance costs on top of the result for a full cost picture.
Extra payments reduce your outstanding principal faster, meaning you pay less interest overall. Use the result as your baseline and subtract your extra payments from the balance manually.