Loan Interest Calculator
Calculate how much interest you could pay over the life of a
fixed-rate loan.
Enter the loan amount, interest rate and loan term in the white
box. The green box shows your estimated interest cost, monthly
payment and total amount repaid.
How the Loan Interest Calculator works
This calculator estimates the total interest paid on a fixed-rate loan using the loan amount, annual interest rate and repayment term you enter.
Interest is calculated using a standard amortizing loan, where each monthly payment contains both principal and interest. As the outstanding balance falls, the amount of interest charged each month also falls.
The interest percentage shows the total estimated interest paid as a percentage of the original amount borrowed. This can help show the overall cost of borrowing beyond the headline interest rate.
Results are estimates for planning purposes only and do not include origination fees, late charges or other lender costs.