Loan Calculator Free

The Loan Calculator is a free web-based tool that computes the total repayable amount, monthly installments and interest charges for different types of loans. Instead of using manual calculations, this tool automates the process, helping you make better financial decisions. It works for secured loans (like mortgages or auto loans) and unsecured loans (like personal or student loans).

1. Select Calculation Mode: Choose whether you want to find monthly payments, loan amount, interest rate, or number of payments.
2. Enter Loan Details: Input the loan amount, interest rate, term length, or monthly payment depending on your selection.
3. Click Calculate: Instantly view results with accurate breakdowns.
4. Review Results: See your monthly payment, interest costs and repayment plan in seconds.

All modes use globally recognized financial formulas to deliver precise results.

• Multiple Modes: Calculate monthly payments, loan amount, interest rate, or number of payments.
• Instant Results: Get repayment schedules in seconds.
• Free & Easy: 100% free, no sign-up required.
• Accurate Algorithms: Uses formulas and Newton-Raphson method for interest rate calculation.
• Works for All Loan Types: Mortgage, personal, auto, business, or student loans.

The calculator considers the following factors:

• Loan Amount: The total borrowed principal.
• Loan Term: Duration in months or years to repay.
• Interest Rate: Annual percentage charged by the lender.
• Compounding: Interest applied to both principal and accrued interest.
• Monthly Payment: The installment required until full repayment.

• Auto Loan Calculator: Estimate monthly payments and total cost of car loans.
• Mortgage Calculator: Plan property purchase repayments, including down payments.
• Home Loan Calculator: Compute EMIs and interest on home loans.
• Personal Loan Calculator: Find monthly installments on unsecured loans.
• Student Loan Calculator: Calculate repayment plans for education expenses.
• Business Loan Calculator: Check monthly and yearly repayments for business loans.

• Secured Loans: Backed by collateral (e.g., home or car). Usually lower interest rates.
• Unsecured Loans: No collateral required (e.g., personal loans). Higher interest rates based on borrower’s credit score.

• What is a good interest rate on a personal loan? A rate lower than the national average is generally considered good.
• Where can I get a personal loan? Banks, credit unions, peer-to-peer lenders and online loan providers.
• What factors affect loan interest rates? Loan type, credit score, collateral and overall economic conditions.
• How do I know how much loan I can afford? Enter your budget, monthly payments and loan term into the calculator to find a realistic loan amount.
• Is this calculator tied to a bank? No, it provides independent estimates based on standard financial formulas.