Loan Calculator
Calculate the monthly payment and total interest on an auto or personal loan, and compare how different terms change the cost.
- Loan amount
- £30,000
- Total interest
- £6,068
- Total of payments
- £36,068
- Payoff time
- 5 yr
Borrowing $30,000 at 7.5% over 60 months costs $601 per month and $6,068 in total interest, for a total of $36,068.
Principal vs. interest
- Principal$30,000
- Interest$6,068
View data table
| Category | Value |
|---|---|
| Principal | $30,000 |
| Interest | $6,068 |
Shorter term, less interest
Same loan, different terms — monthly payment vs. total interest.
View data table
| Term (months) | Monthly payment | Total interest |
|---|---|---|
| 36 | $933 | $3,595 |
| 48 | $725 | $4,818 |
| 60 | $601 | $6,068 |
| 72 | $519 | $7,347 |
Payment sensitivity to rate
View data table
| Rate % | Payment |
|---|---|
| 4 | $546 |
| 4 | $553 |
| 5 | $559 |
| 5 | $566 |
| 6 | $573 |
| 6 | $580 |
| 7 | $587 |
| 7 | $594 |
| 8 | $601 |
| 8 | $608 |
| 9 | $616 |
| 9 | $623 |
| 10 | $630 |
| 10 | $637 |
| 11 | $645 |
| 11 | $652 |
| 12 | $660 |
How this works
Adjust the term and watch the trade-off: a shorter loan costs more per month but far less in total interest. Everything is computed in your browser.
Popular variants
Frequently asked questions
Should I choose a shorter or longer term?
A shorter term raises your monthly payment but lowers total interest. The term-comparison chart shows both numbers side by side so you can pick the trade-off you're comfortable with.
Does this work for car loans and personal loans?
Yes. Any fixed-rate, fully-amortizing installment loan uses the same math.
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For general information only — not financial advice. Your actual rate and fees depend on your lender and credit profile.