Loan payment calculator
Calculate the monthly payment, total cost and total interest of a car, personal or home loan.
How it works
Payment = P × r / (1 − (1 + r)^−n), where P is the principal, r the monthly rate (annual rate / 12) and n the number of months.
Results are for guidance only and do not replace professional advice.
Worked example
With the default values:
- Loan amount15000
- Annual interest rate (%)4.5
- Term (years)5
you get:
- Monthly payment€279.65
- Total paid€16,778.72
- Total interest€1,778.72
- Number of payments60
Frequently asked questions
How does the “Loan payment calculator” tool work?
Payment = P × r / (1 − (1 + r)^−n), where P is the principal, r the monthly rate (annual rate / 12) and n the number of months.
What do I need to enter?
Just fill in: loan amount, annual interest rate, term. The result updates as you type.
Can you give an example?
Loan amount: 15000; Annual interest rate (%): 4.5; Term (years): 5 → Monthly payment: €279.65; Total paid: €16,778.72.
Is this calculator free, and is my data private?
Yes. HOD Calc is completely free with no sign-up. The calculation runs in your browser: nothing you type is sent or stored.