Calculators
About the Loan Calculator
The Loan Calculator is a free online calculator from Toolbench. Monthly payment, total interest and payoff date. Enter your numbers and the answer — with the formula used — updates as you type.
- Category
- Calculators
- Price
- Free
- Account
- Not required
- Runs
- Entirely in your browser
How to use the Loan Calculator
- Enter the values (loan amount, annual interest rate %, term (years), first payment).
- Read the result — it updates as you type.
- Check the breakdown rows to see exactly how it was calculated.
Worked example
| Loan amount | 25000 |
|---|---|
| Annual interest rate % | 6.5 |
| Term (years) | 5 |
| Monthly payment | 489.15 |
| Number of payments | 60 |
| Total paid | 29,349.22 |
| Total interest | 4,349.22 |
| Interest share | 14.82% |
| First payment: interest / principal | 135.42 / 353.74 |
Formula: Monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments.
Inputs
| Loan amount | Default: 25000 |
|---|---|
| Annual interest rate % | Default: 6.5 |
| Term (years) | Default: 5 |
| First payment | Date (defaults to today) |
Privacy
Everything runs in your browser: what you type or paste is processed by JavaScript on your device, not on a server. If you are signed out, nothing is saved at all. If you sign in with Google, your inputs and settings are saved privately to your account so they sync across devices.
Frequently asked questions
Is the Loan Calculator free?
Yes. Loan Calculator is completely free with no sign-up, no usage limits and no watermarks.
Is my data private?
Yes. The Loan Calculator processes everything in your browser. Signed out, nothing is saved; signed in, your inputs sync privately to your own account.
How does the loan calculation work?
Monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly payments.
Does it work on my phone?
Yes. Toolbench runs in any modern browser on desktop, tablet or phone — there is nothing to install.
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