Loan Calculator
Auto, personal or student loans. Enter your own interest rate — no account, no sign-up.
Free loan calculator with an amortization schedule
The Loan Calculator on SavyTools estimates the monthly payment, total interest and total amount paid for an auto, personal or student loan. Enter the loan amount, your own annual interest rate and the term in years, and it builds a month-by-month amortization schedule showing how much of each payment goes to principal and how much to interest.
How to use it
Choose Auto loan, Personal loan or Student loan, enter the amount you plan to borrow, the annual interest rate offered to you, and the number of years to repay it. Press Calculate loan to see the monthly payment and the full payoff schedule. Scroll the schedule to see the balance fall over time.
Tips
A shorter term usually means a higher monthly payment but much less total interest. A lower rate has a similar effect. Use the rate from your actual offer, not a guess, when you compare loans. These figures are estimates and do not include fees, taxes or insurance.
Frequently asked questions
Does it work for auto, personal and student loans? Yes. The calculation is the same for all three; the type you choose is only a label for your loan.
Can I enter my own interest rate? Yes. Enter the annual rate as a percentage, for example 6.5.
What is an amortization schedule? A month-by-month breakdown of each payment into principal and interest, with the remaining balance after each payment.
Is this financial advice? No. It is an estimate for planning only.