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Loan Calculator
Amortized loan payment calculator
How It Works
Free loan calculator to find the repayment plan, interest cost, and amortization schedule of conventional amortized loans, deferred payment loans, and bonds.
A loan is a contract between a borrower and a lender in which the borrower receives principal that they are obligated to pay back in the future. Most loans fall into three categories: amortized loans (fixed payments paid periodically until maturity), deferred payment loans (single lump sum paid at maturity), and bonds (predetermined lump sum paid at maturity).
Amortized loans are the most common type and include mortgages, auto loans, and personal loans. The periodic payment amount is calculated using the loan amount, interest rate, and term. Deferred payment loans, such as zero-coupon bonds, accrue interest throughout the term and are repaid in full at maturity.
Understanding the type of loan, the compounding frequency, and the payment schedule is essential for comparing different loan products and choosing the most cost-effective option.
Results
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Quick Tips
- • Results update automatically as you type
- • Use Tab to navigate between fields
- • Press Enter to calculate