Finance Tools
Total Loan Cost Calculator
See the total cost of a loan, including monthly payment, total paid, and total interest. Optionally add an extra monthly payment to see time and interest savings.
See the total cost of a loan, including monthly payment, total paid, and total interest. Optionally add an extra monthly payment to see how much time and interest you can save.
How to use this total loan cost calculator
- Enter the loan amount.
- Enter the annual interest rate and loan term in years.
- Optionally enter an extra monthly payment amount to simulate paying off the loan faster.
- Click Calculate to see monthly payment, total paid, total interest, and potential savings with extra payments.
Example
For a $25,000 loan at 7% over 5 years with an optional $100 extra monthly payment, this calculator shows:
- The standard monthly payment and total interest cost over 5 years.
- The new payoff time and total interest if you add an extra $100 per month.
- How much interest and time you save by making extra monthly payments.
More tools in Finance Tools
- Loan Payment Calculator
Calculate monthly payment for a fixed-rate loan.
- Mortgage Calculator
Estimate your monthly mortgage payment based on loan amount, interest rate, and term.
- Amortization Calculator
Generate a full amortization schedule with monthly principal and interest breakdown.
- Refinance Calculator
Compare your current mortgage with a new refinance offer and see monthly savings, total interest saved, and breakeven point.