Free loan calculator with amortization schedule. See monthly payment, total interest, and savings from extra principal payments. No signup — runs in your browser.
Enter your loan amount, APR, and term to see the monthly payment and full amortization path. Example: a $15,000 car loan at 6.5% over 48 months costs about $357/month and $1,139 in total interest. Adding $100/month extra can pay off the loan roughly 9 months early and save hundreds in interest.
Monthly payment depends on principal P, annual rate r, and term n (months). Formula: M = P × [r/12 × (1+r/12)^n] / [(1+r/12)^n − 1]. Our calculator applies this instantly from your inputs.
Total interest = (monthly payment × number of payments) − original loan amount. On a $20,000 loan at 7% for 5 years, total interest is about $3,761. The amortization table shows the interest portion of every payment.
Yes. On a $20,000 loan at 7% over 5 years, adding $100/month extra cuts payoff by about 13 months and saves roughly $640 in interest. Earlier extra payments have more impact because they reduce principal when interest charges are highest.
The interest rate is the base borrowing cost. APR includes fees (origination, etc.), so it reflects the true annual cost. Use APR when comparing loan offers.