A simple loan calculator, free.
Type the loan amount, interest rate and term. See your monthly payment, the total interest, and what paying a little extra each month saves.
✓ 100% free ✓ Instant download ✓ Excel for Windows & Mac
| Normal | With $100 extra | |
|---|---|---|
| Monthly payment | $500.95 | $600.95 |
| Months to pay off | 60 | 49 |
| Total interest | $5,056.92 | $4,042.90 |
| Total you’ll pay | $30,056.92 | $29,042.90 |
Simple, and honest about the cost
Monthly payment
Worked out with Excel’s PMT function.
Total interest
What the loan really costs over its life.
Pay a bit extra
How many months sooner, and how much less interest.
Yours in under a minute
Click “Download it free”
You’ll go to a secure download page. There’s nothing to pay.
Enter your email
The download link is sent straight to your inbox, and you can download it straight away too.
Open it in Excel
Type the loan amount, rate and term.
Free version or full version
The free calculator gives you the headline numbers. The full Loan & Mortgage Calculator adds the full schedule, lump sums and comparisons.
| Free | Full version · $7.99 | |
|---|---|---|
| Monthly payment | ✓ | ✓ |
| Total interest | ✓ | ✓ |
| Extra monthly payment | ✓ | ✓ |
| Full amortization schedule | – | ✓ |
| One-off lump sum | – | ✓ |
| Year-by-year and balance charts | – | ✓ |
| Compare 3 loans | – | ✓ |
| Tax and insurance | – | ✓ |
Hi, I’m Lee
I run Sheet Leveller on YouTube, where I make quick, no-nonsense Excel tutorials. This free calculator uses Excel’s PMT and NPER functions from my tutorials, ready to use today.
Questions
Is it really free?
Yes. You just enter your email address so the download link can be sent to you.
Will you email me?
Now and then, with new Excel templates and tips. You can unsubscribe at any time with one click.
Does it use macros?
No. It’s a normal .xlsx file, so there’s nothing to enable and no security warnings.
Which versions of Excel does it work with?
Microsoft 365, Excel 2010 or later on Windows, and Excel for Mac.
See what your loan costs.
Download the free Simple Loan Calculator and try paying a little extra.
Download it freeWant the full schedule and a mortgage comparison? See the full Loan & Mortgage Calculator.