Loan Calculator
Accurately estimate your monthly loan payments and total interest costs in seconds. Our 2026 updated calculator uses the standard amortization formula to help you plan your budget and become debt-free faster.
Example Loan Payments
Here are example monthly payments for common loan scenarios. These calculations assume a fixed interest rate and standard amortization:
| Loan Amount | Interest Rate | Term (Years) | Monthly Payment | Total Interest |
|---|---|---|---|---|
| $10,000 | 5% | 3 | $299.71 | $789.56 |
| $10,000 | 5% | 5 | $188.71 | $1,322.60 |
| $25,000 | 6% | 5 | $483.32 | $3,999.20 |
| $25,000 | 6% | 7 | $365.51 | $5,702.84 |
| $50,000 | 7% | 5 | $990.58 | $9,434.80 |
| $50,000 | 7% | 10 | $580.54 | $19,664.80 |
| $100,000 | 6.5% | 15 | $871.11 | $56,799.80 |
| $100,000 | 6.5% | 30 | $632.07 | $127,545.20 |
Related Financial Calculators
If you're planning a major purchase or investment, you might also find these calculators helpful:
- Budget Calculator: Use the 50-30-20 rule to plan your budget and see how much you can afford for loan payments while maintaining financial balance.
- Mortgage Calculator: Calculate monthly mortgage payments including PITI (Principal, Interest, Taxes, Insurance) and PMI. Essential for homebuyers in 2026.
- Retirement Calculator: Plan your retirement savings and see how your investments will grow over time using compound interest.
- ROI Calculator: Calculate the return on investment for your financial decisions and compare different investment opportunities.
- Inflation Calculator: Understand how inflation affects the purchasing power of your money over time, which is crucial for long-term loan planning.
Frequently Asked Questions
Q:How can I lower my monthly payments?
You can lower payments by extending the loan term (e.g., 60 months instead of 36) or securing a lower interest rate ("refinancing"). Note that a longer term usually increases total interest paid.
Q:Does this calculator factor in inflation?
No, this calculator computes nominal payments. For long-term planning in 2026, consider that the "real value" of a fixed payment decreases over time due to inflation. Use our Inflation Calculator (https://vercalc.com/finance/inflation-calculator) to understand how inflation affects purchasing power.
Q:How is the monthly loan payment calculated?
We use the standard amortization formula widely accepted in the finance industry. This formula balances your interest and principal payments so that the loan is paid off exactly at the end of the term.