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Loan Calculator

Calculate monthly repayments, total interest payable and total cost for any loan.

Monthly PaymentTotal Interest

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per month

About this tool

Calculate monthly repayments, total interest payable and total cost for any loan.

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About this tool

Calculate monthly repayments, total interest payable and total cost for any loan. MyCalcTools calculators are designed for quick everyday estimates with clear inputs, instant results and no account required. Results are provided for general information and planning, not as professional financial, medical, legal or trade advice.

How to use it

  1. Enter the values requested in the calculator fields.
  2. Choose the option that best matches your situation, unit or goal.
  3. Press the calculate button and review the result summary.
  4. Adjust your inputs to compare different scenarios.

Common use cases

  • Checking a quick estimate before making a decision.
  • Comparing two or more everyday scenarios side by side.
  • Planning budgets, meals, projects, dates or personal routines.
  • Double-checking manual calculations with a simple online reference.

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Frequently Asked Questions

Monthly repayment uses the standard amortisation formula: P × r(1+r)^n / ((1+r)^n - 1), where P is principal, r is monthly rate, and n is total months.

This calculator shows principal and interest only. Check with your lender for any additional fees or charges.

Total interest is the total amount paid above the principal over the life of the loan.