Loan Calculator

Calculate your loan payments, compare different loan terms, and understand the total cost of borrowing.

Loan Details

$1K $100K
1% 25%

Payment Summary

Monthly Payment
$311
Principal & Interest
Total Interest
$1,196
Interest Paid
Total Payment
$11,196
Principal + Interest
Payoff Date
Mar 2027
Loan Term

Payment Breakdown

Principal
$10,000
Total Interest
$1,196
Total Payments
$11,196

Compare Loan Terms

1 Year
$866
Total: $10,392
3 Years
$311
Total: $11,196
5 Years
$200
Total: $12,032
7 Years
$155
Total: $13,020

Smart Borrowing Tips

Compare Interest Rates

Shop around and compare rates from multiple lenders. Even a 0.5% difference can save you hundreds over the loan term.

Shorter Terms Save Money

While monthly payments are higher with shorter terms, you'll pay significantly less in total interest over the life of the loan.

Consider Extra Payments

Making extra payments can dramatically reduce your loan term and total interest paid. Even small additional amounts help.

Check Your Credit

Improve your credit score before applying for loans. Better credit scores typically qualify for lower interest rates.