Loan Calculator
Use this calculator for common loan types such as personal loans, auto loans, student loans, or general amortized financing. Compare different payoff structures, see an amortization schedule, and test the effect of extra payments.
Choose a loan structure.
Estimate periodic payments, total interest, or present value depending on the repayment style.
Amortized loan inputs
Fixed payments paid periodically until maturity.
Extra payment options
Deferred payment loan
Single lump sum paid at maturity.
Bond / present value
Amount received today for a predetermined amount due later.
Compare amortized loans, deferred loans, and future-value loan structures
Most consumer borrowing falls into one of a few broad repayment patterns. Some loans use level payments over time, some require a single payment at maturity, and some are easier to understand as a present-value or future-value calculation. This page helps compare those common structures in one place.
Amortized loans: fixed payments over time
Amortized loans spread repayment over a series of scheduled payments. Each payment includes interest and principal. Early payments usually contain more interest, while later payments usually reduce the balance faster. Mortgages, auto loans, personal loans, and many student loans fit this structure.
Deferred payment loans: one large payment later
Some loans grow during the term and are repaid in one large amount at maturity. This structure is useful for illustrating how interest compounds when principal is not being reduced through regular installment payments.
Bond-style calculations and present value
A future lump-sum amount can also be viewed from the other direction. If a borrower promises to repay a fixed amount later, the amount received at the start depends on the interest rate and compounding pattern. This is a useful way to understand zero-coupon style borrowing and discounting.
APR, APY, and compounding frequency
Interest rates can be quoted in different ways. APR is commonly used for loans and often matches monthly repayment structures, while APY reflects the effect of compounding over time. More frequent compounding generally increases the total amount due when the principal remains outstanding.
How extra payments change the cost of a loan
Extra payments reduce the remaining balance sooner. Because interest is charged on the remaining balance, paying extra can reduce total interest and shorten the payoff timeline. This calculator shows that effect in both the summary and the amortization schedule.
Secured and unsecured loans
Secured loans
Secured loans are backed by collateral, such as a vehicle or home. Because the lender has a claim against the collateral, secured loans often come with lower rates than unsecured borrowing.
Unsecured loans
Unsecured loans do not use collateral. Approval often depends more heavily on income, credit history, existing debt, and the lender’s view of repayment risk.