Calculator
Loan Interest Calculator
A loan interest calculator totals the interest you will pay over the life of a fixed-rate loan. Enter the amount, rate, and term to see the monthly payment, total interest, and total repaid.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
- Runs in your browser
- No sign-up
- Free
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
This calculator totals the interest you would pay over the life of a fixed-rate loan, assuming you make every payment on schedule.
M = P * r * (1 + r)^n / ((1 + r)^n - 1)
Total interest = (M * n) - P.
- P = amount borrowed
- r = monthly rate = annual rate / 12 / 100
- n = number of monthly payments
Interest grows with the rate and the term. Paying extra toward principal, or choosing a shorter term, reduces the total.
Rates are user inputs here because they depend on the lender and your credit profile. Enter the rate you want to test.
How to use this calculator
Enter your numbers
Everything runs in your browser. Nothing you type is sent to us.
Read the result
The result shows the headline figure and the numbers behind it, so you can see where the cost comes from.
Check the rules before you apply
State caps and licensing decide what a lender may offer you. The state reference lists both with their sources.
Before you apply, run the numbers
The calculators are free and run in your browser. When you are ready to look at real offers, the link below goes to our referral partner.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.