Financial Calculators
Loan Calculator
Calculate regular payments, total interest and an estimated payoff schedule for a fixed-rate loan. Add fees or extra payments to compare the full borrowing cost, not only the advertised payment.
Calculate a fixed-rate loan
Loan Calculator
Estimate payments and compare the original schedule with optional extra payments.
Loan details
Loan estimate
- Principal Amount
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- Total Interest
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- Total Fees
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- Total Repayment
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- Number of Payments
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- Estimated Payoff Date
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- Effective Cost of Loan
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- New Payoff Date
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- Interest Saved
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- Time Saved
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Your calculation is processed in your browser and is not stored by this tool.
Payment amortization schedule
Twenty payments are shown at a time.
| Payment Number | Payment Date | Beginning Balance | Payment | Principal | Interest | Extra Payment | Ending Balance |
|---|
Yearly summary
| Year | Beginning Balance | Principal Paid | Interest Paid | Ending Balance |
|---|
The figures you enter remain in browser memory. Results are estimates and are not a bank quote, approval decision, settlement figure or financial recommendation.
How to use the loan calculator
- 1
Enter the amount you plan to borrow, excluding any down payment already made.
- 2
Add the annual interest rate and loan term.
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Choose monthly, biweekly or weekly payments to match the proposed agreement.
- 4
Include fees and an optional extra payment if you want to model a faster payoff.
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Compare the scheduled payment, total interest, total cost and amortization table.
How fixed-rate loan payments are calculated
For a standard amortizing loan, each regular payment contains interest and principal. Interest is calculated on the remaining balance, and the rest of the payment reduces principal. Early payments normally contain more interest because the balance is higher. Later payments contain more principal.
Payment formula: payment = P × [r(1 + r)n] ÷ [(1 + r)n − 1]. P is principal, r is the rate for each payment period and n is the number of payments.
Loan payment example
A $20,000 loan at 8% annual interest for five years has an estimated monthly payment of about $405.53 before fees. Across 60 scheduled payments, the modeled total is about $24,331.80, including roughly $4,331.80 in interest.
Using extra payments
An extra payment is applied to the outstanding principal in the calculator. A lower balance means less interest is charged in later periods, which can shorten the estimated payoff time. Check the real contract first because some lenders restrict, delay or charge for early repayment.
Comparing online loan offers
Use the same loan amount, term, payment frequency and fee treatment for each scenario. A lower monthly payment can result from a longer term and may cost more overall. Compare net funds received, total interest, lender fees and the final repayment amount together.
Important limitations
- Rate type: the model assumes a fixed rate, not a variable or reducing promotional rate.
- Interest method: a lender may use daily interest or a different day-count convention.
- Fees: processing, insurance, late-payment and government charges may sit outside the model.
- Bank offers: this is not an HBL, Meezan Bank, UBL, NBP or Bank Alfalah loan quote.
The interface displays its built-in currency symbol and does not convert exchange rates. Use figures from one loan offer consistently when comparing scenarios.
Related tools
Loan Calculator FAQ
How much would my loan payment be?
Enter principal, annual interest rate, term and payment frequency. The calculator returns the estimated regular payment and total cost.
Does a longer loan term lower the payment?
Usually yes, but it normally creates more interest-bearing periods and can increase total interest. Compare both payment and total cost.
Can I calculate weekly or biweekly payments?
Yes. Select the payment frequency that matches the proposed agreement so the number of payments and periodic rate are modeled consistently.
How do extra payments affect a loan?
In this model, they reduce principal and can shorten payoff time and reduce future interest. Real prepayment rules depend on the lender.
Is this calculator linked to a bank?
No. It is an independent planning calculator and does not retrieve bank rates, eligibility rules or approval decisions.
Are my loan details stored?
No. The entered amounts remain in browser memory and are not sent to Shopshubb by the calculator.
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