Use this loan calculator to see how your loan changes based on changing conditions. You can adjust the initial loan amount, the loan period, the interest rate and additional payments made on top of the monthly minimum.
See how changes to these categories change how much interest you pay over the course of the loan, how they affect your monthly payments, and how they affect your estimated payoff date. View your amortization schedule and charts reflecting principal and interest paid at various points over the course of the loan. This calculator can be used for school loan, mortgage, auto and any other fixed loan types.
Things to keep in mind when using this loan calculator. If you are in the middle of your loan, you can set the "Loan amount" to your current outstanding loan balance, and the "Loan period" to however many months (number of payments) are left on the loan. For the "Summary Charts" section, hover over charts (or touch them if you're on a mobile device) to see details about that part of the chart. The "Summary Charts" and "Amortization Schedule" sections are collapsible if you click (or touch) those section headers.