Loan Calculator 2026
Not sure how much a loan will really cost? Whether you’re comparing offers from different lenders or planning your budget, use this easy loan calculator to estimate your monthly payments, total interest, and the overall cost of your loan in just a few seconds.
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How to use this calculator
Enter your loan details in the fields below and hit “Calculate” to see your results. Here’s a quick guide to each field:
- Loan Amount — How much you’re borrowing in total.
- Loan Term — How long you have to repay the loan, entered in months.
- Annual Interest Rate — The yearly cost of borrowing, including any fees, shown as a percentage.
- Compound — How often interest is calculated on your balance. More frequent compounding means interest builds on itself more quickly.
- Payment Frequency — How often you’ll be making payments (weekly, monthly, etc.).
- Total Payments — The full amount you’ll pay back over the life of the loan — principal plus interest.
- Total Interest — Just the interest portion: what borrowing the money actually costs you.
About Stephen Joseph:
Stephen is a financial journalist with over a decade of experience covering personal finance, investing, and small business. His work has been widely featured across major outlets including MSN Money, Business Insider, Fox Business, and CBS News MoneyWatch. He currently serves as a financial planning expert and journalist.
In addition to his editorial work, Stephen partners with leading brands in the financial services industry — including Citibank, Discover Bank, and AIG Insurance — helping shape content strategy that connects with real consumers. Before transitioning into financial journalism, He built his professional foundation in sales within the communications industry.
Stephen holds a bachelor’s degree in Political Science from the University of South Carolina and a master’s degree from Charleston Southern University.