Smart Web Apps Loan Repayment Calculator
Category

Loan Repayment Calculator

Calculate monthly payments and total interest for a fixed-rate amortizing loan. Includes the standard amortization formula and a compact schedule preview.

Enter loan details, then click Calculate.
Results
Monthly payment
—
Total interest
—
Total paid
—
Formula
Schedule preview (first 12 payments)
# Payment Interest Principal Balance

Tool description

This calculator uses the standard fixed-rate amortization formula to estimate monthly payments and total interest for a loan paid monthly. It does not include fees or insurance.

How to use

  1. Enter principal (loan amount), APR, and term in years.
  2. Calculate to see monthly payment, total interest, and total paid.
  3. Open the schedule preview to see the first 12 payments.

Why it’s useful

  • Compare loan offers by APR and term.
  • Estimate how much interest you’ll pay over time.
  • Understand the split between interest and principal early in the loan.

Use cases & interpretation

  • Auto loans: compare 48 vs 60 months.
  • Personal loans: evaluate the cost of refinancing.
  • Budgeting: confirm monthly payment fits your plan.

FAQs

No. It uses principal, APR, and term only. Add fees to the principal if you want a rough approximation.

Then monthly payment is simply principal ÷ number of months.
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