About

We built Loan Calculators because a simple question — "what will this loan cost me?" — should have a simple, honest answer. No sign-up, no paywall, no email needed just to see a number.

Who built this

This site is run by a small editorial team, listed on every page as the Loan Calculators Editorial Team. We are not a bank, not a lender, and not a financial adviser. We got tired of loan calculators that hide the answer behind a form, or show a single number with no working shown. So we built the tool we wanted to use ourselves: type in the loan amount, the rate and the term, and see the full breakdown — monthly payment, total interest and total paid — with the formula and a worked example printed next to the result. Every page carries a byline and a last-updated date.

Why we built it

Most people only look closely at a loan when something changes: a new car, a home repair, a loan offer in the mail, or a monthly payment that feels too high. At that moment, what you need is a straight number and the maths behind it. You do not need an account, a sales call, or a long article before the answer. That is the whole idea of this site. Every calculator on it is free, works in your browser, and shows its working. If a number is a rough estimate, the page says so in plain words, next to the number.

How the calculators work

Every calculation runs in your browser, on your own device. The loan amount or rate you type in is never sent to us, stored by us, or seen by anyone else. The loan, auto loan, amortization and EMI calculators use the standard amortization formula: with a monthly rate r (annual rate divided by 12) and n monthly payments, the monthly payment is P × r(1+r)ⁿ / ((1+r)ⁿ − 1). The interest calculator uses simple interest (I = P × r × t) and compound interest (A = P(1 + r/n)^nt). The payoff calculator adds your extra payment to the normal monthly payment and counts the months until the balance reaches zero. Each tool page shows a worked example with real numbers, so you can see exactly what the tool does before you trust it with your own loan.

The rates in our examples

The rates in the worked examples on this site — 7.5%, 6.9%, 8% and 5% — are examples only, not live market rates. This site does not publish live rates, because rates change and depend on your credit score, the lender and the loan type. Always enter the rate your lender quotes you, and compare the monthly payment and total interest across lenders before you sign.

How we check and update the figures

We check the formulas and the worked examples by running the same code the calculators use, and we re-check them whenever a page changes. If a reader tells us a figure looks wrong, we run the numbers again and fix the page if we got it wrong. You can report a wrong figure on the Contact page — tell us the page, the numbers you typed in, and the result you saw, and we will check it.

What this site does not do

This site does not give financial advice, tax advice, or legal advice. It does not lend money, approve loans, or talk to your lender. It does not store your loan details, and it does not sell anything. The numbers are estimates from the standard formulas. Your lender’s figures, fees and payoff rules can differ, so check the loan agreement. If you need an exact answer, talk to a financial professional — and bring the breakdown from this site with you.

Sources and method. Standard loan amortization formula: monthly rate = annual rate / 12; monthly payment = P × r(1+r)ⁿ / ((1+r)ⁿ − 1). Simple interest I = P × r × t; compound interest A = P(1 + r/n)^nt. Rates in the examples on this page are examples only, not live market rates. Results are estimates, not financial advice.

Estimate, not financial advice. This calculator uses the numbers you enter and the standard amortization formula. Your lender’s figures, fees and payoff rules can differ. Check the loan agreement and talk to a financial professional before you borrow.