All Tools VerseLoan Calculator - Payment and Interest
Free loan calculator. Enter the amount, rate and term to see your monthly payment, total interest, full amortization schedule and charts. Print or export it.
- Runs in your browser
- Nothing uploaded
- Free, no sign-up
Work out the monthly payment on any loan, plus the total interest and a full amortization schedule with charts. Add an extra payment to see how much faster you can pay it off. Everything runs in your browser.
How to Use Loan Calculator - Payment and Interest
- Enter the loan amount. Type the amount you are borrowing.
- Add the interest rate and term. Enter the annual interest rate and how many years you have to repay.
- Add an extra payment if you want. Any extra monthly amount goes to the principal, which pays the loan off faster and cuts interest.
- Read the results. See the monthly payment, total interest, a principal-versus-interest chart, and the full amortization schedule.
- Save it. Print a clean report, download the schedule as a CSV, or copy a share link with your numbers.
Frequently Asked Questions
How is the monthly payment worked out?
It uses the standard amortization formula: M = P times r divided by 1 minus (1 plus r) to the power of minus n, where P is the loan amount, r is the monthly rate (annual rate divided by 12) and n is the number of months. The same payment each month gradually shifts from mostly interest to mostly principal.
What does an extra payment do?
An extra amount each month is applied straight to the principal, so the balance drops faster, less interest builds up, and the loan is cleared sooner. Try it and watch the payoff date and total interest fall.
Does it work for car loans, personal loans or student loans?
Yes. Any fixed-rate loan that is paid back in equal monthly installments works the same way, so this calculator fits auto, personal, and most student loans.
Is my information sent anywhere?
No. The calculator runs entirely in your browser. Your numbers never leave your computer and it works offline once loaded.
What is an amortization schedule?
It is a month-by-month table showing how each payment splits between interest and principal and how the balance falls to zero. You can switch between an annual summary and the full monthly view, and export it as a CSV.
Can I use it for any currency?
Yes. The math is the same for any currency. Amounts show a dollar sign, but the payment and totals are correct whatever currency you use.
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