Loan Calculator
Calculate your monthly repayment, total interest paid, and full amortization schedule for any loan.
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How to Use the Loan Calculator
ToolsPix Loan Calculator computes your monthly repayment, total interest cost and a full amortization schedule for any fixed-rate loan — whether it is a mortgage, car loan, personal loan or any other instalment agreement. Everything runs instantly in your browser; no data is ever sent to a server.
The repayment formula
Monthly payments are calculated using the standard annuity formula:
M = monthly payment P = principal r = monthly rate n = total months
The monthly rate r equals the annual rate divided by 12. Early payments are mostly interest; later payments are mostly principal — this is amortization.
Why use ToolsPix Loan Calculator?
- Completely free — no account, no app and no data collected.
- Supports both year-based and month-based loan terms.
- Visual donut chart shows the principal-to-interest split at a glance.
- Full amortization table breaks down every monthly payment.
- Handles zero-interest loans correctly.
FAQ
How is the monthly payment calculated?
The calculator uses the standard annuity formula: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12) and n is the total number of months. For zero-interest loans the formula simplifies to P ÷ n.
What is an amortization schedule?
An amortization schedule lists every monthly payment for the life of the loan, showing how much goes to interest and how much reduces the principal balance. Early payments are interest-heavy; the balance shifts toward principal as the loan matures. Toggle the schedule with the Show Schedule button after calculating.
Can I use this for mortgages, car loans and personal loans?
Yes. Any fixed-rate instalment loan uses the same annuity formula. Enter the loan amount, the annual interest rate, and the term in years or months, then click Calculate. The calculator works equally well for 30-year mortgages, 5-year car loans and short-term personal loans.
What happens if I enter an interest rate of 0%?
A zero interest rate is valid. The calculator detects this and divides the principal evenly across all months, so each payment equals Principal ÷ Total Months. The interest rows will show £0 and the amortization schedule will show purely principal repayments.
Are my loan details sent to a server?
No. All calculations run entirely in your browser using JavaScript. No data — loan amounts, interest rates or personal details — is transmitted to any server, stored in a database or seen by anyone other than you.