LoanCalc

Know your numbers, plan smarter.

Run the numbers on loans, mortgages, savings, refinancing, and live currency rates.

  • Free forever
  • No signup required
  • Works for any country
$
$1,000$2,000,000
%
0.1%30%
years
1 yr30 yrs
Using the defaults? Enter your actual loan amount, interest rate, and term above. The formula works for any currency and any country.

Monthly payment

$1,896

30-year fixed mortgage

Principal & interest only, excludes taxes, insurance, and fees

Principal

$300,000

Total interest

$382,560

over 30 years total

Total cost

$682,560

Payoff year

2056 (30 yrs)

Principal 44% Interest 56%

Payment breakdown

How your total cost is split between the amount borrowed and interest paid to the lender.

—
principal
Principal borrowed
—
Total interest paid
—
Total amount repaid —
Loan fully paid off —

Amortization schedule

Year-by-year breakdown of every payment.

Year Starting balance Principal paid Interest paid Ending balance

How loan payments are calculated

Every fixed-rate loan uses the same standard amortization formula. Your monthly payment is calculated so that equal instalments cover both the interest accruing on the remaining balance and a portion of the original principal, fully paying off the loan by the final month.

The formula

M = P × [ r(1+r)ⁿ ] ÷ [ (1+r)ⁿ − 1 ]
MMonthly payment
PPrincipal (the loan amount)
rMonthly rate (annual rate ÷ 12)
nTotal payments (years × 12)

How to lower your monthly payment

Three levers control your monthly payment. Adjusting any one of them immediately changes what you owe each month:

  • A larger down payment reduces the principal directly: less borrowed means lower monthly payments and less total interest paid.
  • A longer loan term spreads payments over more months. Your monthly bill drops, but total interest paid over the life of the loan increases.
  • A lower interest rate has a compounding effect: even 0.5% difference on a $300,000 mortgage saves over $30,000 in total interest.
  • Improving your credit score before applying typically qualifies you for better rates. Check your score 3–6 months before borrowing.

Use this free loan payment calculator to find your exact monthly payment for any mortgage, car loan, personal loan, or student loan. Enter your loan amount, annual interest rate, and term in years: the calculator instantly shows your monthly payment, total interest paid over the life of the loan, and a full year-by-year amortization schedule showing how your balance decreases with every payment. The formula used is the standard loan amortization equation and works identically for any currency and any country worldwide. No account or signup is required.

Compound interest & savings growth calculator

See exactly how your savings or investment grows year by year with compound interest.

$
$100$1,000,000
$
$0$10,000/mo
%
0.1%30%
years
1 yr50 yrs
About the 7% default Global equity index funds have historically returned around 6–8% annually after inflation. Adjust the rate above to match your own expectations.

Future value

—

Total portfolio after 20 years

Total deposited

—

Interest earned

—

Growth multiplevalue ÷ deposits

—

Target year

—

Deposits — Growth —

Year-by-year growth

Balance at end of each year, split between your deposits and compound growth.

The compound interest calculator shows how an initial deposit grows over time when interest is earned on both the original principal and the accumulated interest. Enter a starting amount, monthly contribution, annual return rate, and investment period to see the future value of your savings or investment portfolio. The S&P 500 has historically returned approximately 7% annually after inflation: use this as a realistic baseline for diversified index fund investments. The year-by-year chart clearly shows the exponential effect of compounding, particularly over 20 or 30 year periods.

Refinance calculator: how much will you save?

Enter your current loan details and the new rate you've been offered. The refinance calculator shows your monthly savings, the break-even month, and your total lifetime saving after closing costs.

Current loan

$
$1,000$2,000,000
%
0.5%20%
years
1 yr30 yrs

New loan offer

%
0.5%20%
$
$0$50,000

Typically 1–5% of your loan amount. Your lender's quote is the most accurate figure.

Monthly savings

—

Per month with the new rate

Old payment

—

New payment

—

Break-evenmonth savings exceed costs

—

Total lifetime savings

—

Enter your loan details to see if refinancing makes sense.

Break-even is the month when cumulative savings from the lower rate exceed your upfront closing costs.

Compare your current loan rate against a new offer to find your break-even point and total savings over the remaining term.

Live exchange rates & market prices

Convert between 161 currencies with live exchange rates. Also shows live gold price, WTI crude oil price, and stock prices for Apple, Microsoft, NVIDIA, Tesla, JPMorgan, Berkshire B, and S&P 500 ETF — all updated hourly.

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Converted to

—
Rate: — Inverse: — Updated: —

Quick reference: common amounts

LoanCalc currency converter supports 161 world currencies with live exchange rates updated every 24 hours. Gold price (XAU) and WTI crude oil price are converted to your local currency in real time. Live stock prices for Apple, Microsoft, Alphabet, Amazon, Meta, NVIDIA, Tesla, JPMorgan, Berkshire B, and S&P 500 ETF (SPY) are shown alongside, updated every hour with no account required.

Gold (XAU/oz)

Price per troy ounce

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per oz in USD

1g

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10g

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1 kg

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Price in your currency (—)

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Crude Oil (WTI)

Price per barrel

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per barrel in USD

5 bbls

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10 bbls

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100 bbls

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Price in your currency (—)

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Silver (XAG/oz)

Price per troy ounce

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per oz in USD

1g

—

10g

—

1 kg

—

Price in your currency (—)

—

Stocks US equities · for reference
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Frequently asked questions

  • The standard loan payment formula is: Monthly Payment = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments. This formula ensures equal payments every month that fully repay the loan including interest over the agreed term.
  • An amortization schedule shows how each payment is divided between principal and interest over the full loan term. In the early years, most of each payment goes toward interest. Over time, a greater portion reduces the principal balance. LoanCalc generates a complete year-by-year schedule showing exactly how your balance decreases with each passing year.
  • Yes. The loan payment formula is the same worldwide. You enter your own loan amount (in any currency), your own interest rate, and your own loan term. LoanCalc never fetches external data: all calculations happen in your browser. There is no country-specific data, no tax law dependency, and no requirement to be connected to anything.
  • Three strategies reduce total interest: (1) Choose a shorter loan term: a 15-year mortgage versus a 30-year mortgage at the same rate roughly halves the total interest paid. (2) Make extra principal payments whenever possible: even small additional amounts each month significantly reduce the final total. (3) Secure a lower interest rate through a stronger credit score, comparison shopping across multiple lenders, or refinancing when rates fall.
  • Yes, completely free. No account required. No signup. No email collection. No premium features behind a paywall. The calculator, amortization schedule, and payment breakdown chart are all fully accessible at no cost. LoanCalc is supported by display advertising: the calculator itself will always remain free.
  • Enter your current loan balance, interest rate, and remaining term, then enter the new rate and estimated closing costs. The refinance calculator shows your new monthly payment, the exact break-even month when your cumulative savings exceed the closing costs, and the total lifetime saving over the remaining loan term. As a general rule, refinancing is worthwhile if you plan to keep the loan longer than the break-even period and the rate reduction is at least 0.5%.
  • LoanCalc fetches the live gold spot price in USD from a financial market data source and converts it to your local currency using live exchange rates. The gold price is cached in your browser for one hour, so it refreshes frequently without making excessive API calls. Prices are displayed per troy ounce (the standard trading unit), per gram, and per kilogram for everyday reference.
  • The LoanCalc currency converter supports 30 major world currencies including USD, EUR, GBP, JPY, EGP, AED, SAR, CAD, AUD, CHF, CNY, INR, SGD, HKD, TRY, KRW, and more. Exchange rates are sourced from the Frankfurter open exchange rates API and updated every 24 hours. The converter automatically defaults the "to" currency based on your browser's locale settings.
  • LoanCalc shows live prices for ten widely tracked US stocks and funds: Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), Meta (META), NVIDIA (NVDA), Tesla (TSLA), JPMorgan Chase (JPM), Berkshire Hathaway B (BRK.B), and the SPDR S&P 500 ETF (SPY). Prices are fetched from Yahoo Finance and updated every hour. Each chip shows the USD price, the percentage change from the previous close, and the equivalent in your local currency using live exchange rates.