How to Use the Loan Calculator
Enter the amount you want to borrow, the annual interest rate, and the loan term in years — the calculator instantly shows your monthly payment, total interest, and total amount to repay, using the same amortization math a lender uses to set your payment.
The Loan Calculator is built for quick comparisons — here's how to read the three figures it produces.
Entering your loan details
Type in the loan amount and interest rate, then use the term slider to set the repayment period in years — as covered in the total-cost guide, the term slider is the input most worth experimenting with, since it has the largest effect on total interest.
Reading monthly payment vs. total interest
The monthly payment tells you the immediate affordability; total interest tells you the true long-run cost — as covered in the longer-term guide, comparing both figures together, not the payment alone, is what reveals whether a lower payment is actually a better deal.