Loan Calculator
Enter a loan amount, interest rate and term to see your monthly payment, total interest, total paid and a full amortization schedule. Free, instant, private.
Amortization schedule (click a year to expand months)
| Year | Principal | Interest | Total paid | Balance |
|---|
How to use the Loan Calculator
- Enter the amount you want to borrow.
- Enter the annual interest rate as a percentage.
- Enter the loan term in years; results update live.
- Expand the amortization schedule and click any year to see the month-by-month breakdown.
Why use ZillaKit's Loan Calculator?
Understanding a loan means more than knowing the monthly payment — it means seeing how much of each payment goes to interest versus principal, and how much the loan costs in total over its life. This calculator uses the standard amortizing loan formula to compute a fixed monthly payment, then builds a complete schedule showing how the balance falls over time. Early in a long loan, most of each payment is interest; the amortization table makes that shift visible, with yearly summary rows you can expand to individual months. It works for mortgages, car loans, personal loans and student loans, in any currency, because it deals purely in the numbers you enter. Everything updates instantly as you adjust the amount, rate or term, so you can compare scenarios in seconds and see the effect of a shorter term or a lower rate on total interest. All calculations run locally in your browser with plain JavaScript, so there is no upload, no signup and nothing stored. The figures are for general planning and information, not a formal quote or financial advice.
FAQ
How is the monthly payment calculated?
It uses the standard amortization formula: payment equals principal times the monthly rate, divided by one minus one plus the monthly rate raised to the negative number of payments. For a 300,000 loan at 6% over 30 years, that is about 1,798.65 per month.
What is an amortization schedule?
It is a table showing every payment over the life of the loan, split into how much reduces the balance (principal) and how much is the cost of borrowing (interest), along with the remaining balance after each period.
Does it include taxes, insurance or fees?
No. This calculator covers principal and interest only. Real-world loans may add property taxes, insurance, origination fees or other charges, so your actual payment could be higher.
Is my data uploaded anywhere?
No. All calculations run in your browser using JavaScript. Nothing you enter is sent to a server or stored.