Free Online Loan Calculator

Plan your finances with this easy-to-use loan calculator. Calculate monthly payments, total interest, and more instantly.

How to Use the Free Online Loan Calculator

Learn how to use EasyTools' free online loan calculator to plan your finances effortlessly. Follow these steps to calculate your loan payments with this best loan calculator tool.

  1. Enter Loan Amount: Input your loan amount (e.g., $10,000) in the "Loan Amount" field.
  2. Set Loan Term: Type the loan duration in years (e.g., 5) in the "Loan Term (Years)" field.
  3. Add Interest Rate: Enter the annual interest rate (e.g., 5%) in the "Interest Rate" field using this loan calculator online.
  4. Choose Compound Period: Select a compounding option (e.g., Monthly) from the "Compound" dropdown.
  5. Select Payback Frequency: Pick a repayment frequency (e.g., Monthly) from the "Pay-Back" dropdown.
  6. Calculate Results: Click "Calculate" to get your monthly installment, total payment, and total interest instantly with this finance tool.
  7. Reset if Needed: Use the "Clear" button to reset all fields and start over.

This free loan calculator is ideal for financial planning, loans, and mortgages. Explore other finance tools like the EMI Calculator on EasyTools for comprehensive support!