Loan Calculator
Calculate monthly payment and total cost for loans
Monthly payment
2,935
Total Interest
26,095
Total Cost
176,095
Related calculators
Loan Calculator: Fixed Monthly Payment on a Straight Loan
Estimate equal monthly payments on a standard amortizing loan. Enter Loan amount, Interest rate (% per year), and Years. The page shows Monthly payment, Total interest, and Total cost (all payments combined). Useful before you compare car loans, renovation loans, or personal loans. This is a math model, not a bank quote.
How to use
The calculator uses the annuity formula. Each month it applies annual rate ÷ 12 to the remaining balance and spreads principal plus interest so the payment stays level. If the rate is 0%, payment is loan amount ÷ number of months. There are no fields for setup fees, insurance, or effective APR. Add those costs mentally when you judge an offer.
Example
Borrowing 150,000 at 6.5% over 5 years gives a monthly payment of about 2,935, total interest about 26,100, and total repaid about 176,100. A 3-year term would raise the monthly payment but cut total interest. Try both in the tool before you sign.
Tips
Lenders may advertise a nominal rate while fees raise the true cost. This page ignores fees. Variable rates can change after you borrow. Use the loan comparison and total loan cost tools on Calctivo for side-by-side scenarios.