Add the numbers for your scenario.
01Finance & Loans toolCalculated result
Loan Calculator
Payment, interest and payoff for any personal or business loan.
100% FreeRuns instantlyNo watermark
- 1Enter detailsAdd the numbers for your scenario.
- 2CalculateVootkit updates the result instantly.
- 3ReviewCheck totals, notes and breakdowns.
Private by designProcessed on your device where possible.
Works on any deviceDesktop, tablet and mobile browsers.
No installationOpen the page and start working.
Always free coreUse the free plan for everyday tasks.
How to use Loan Calculator
Vootkit updates the result instantly.
02Check totals, notes and breakdowns.
03Copy the answer into your workflow.
04Your files stay private
Your work is processed locally in your browser where possible and is never added to a Vootkit upload library.
Learn more about privacyThe monthly payment is the number lenders lead with, and it is the least useful one for comparing offers. Two loans with almost identical payments can differ by thousands once the term differs — total repaid is where that shows up.
What Loan Calculator does
Works out the monthly payment, total repaid and total interest for an amortising loan, including any arrangement fee.
The arrangement fee field matters more than it looks. A 6.9% loan with a fee can cost more than a 7.4% loan without one, which is exactly the comparison headline rates are bad at.
Figures worth knowing
| Formula | M = P × r ÷ (1 − (1 + r)⁻ⁿ), the standard amortisation formula |
|---|---|
| Total interest | Monthly payment × months − amount borrowed |
| Rate range accepted | 0–100% a year |
| Term range | 0.5–40 years |
| APR vs nominal | APR includes compulsory fees; a nominal rate does not — compare like with like |
| Common lender comfort limit | Total debt payments around 36% of take-home pay |
| Currencies | USD, EUR, GBP, CAD, AUD, INR |
Detailed steps
- Enter the amount, rate and term.
- Add any arrangement fee — it is often quoted separately from the rate and changes which offer is cheaper.
- Compare offers on total repaid, not the monthly payment.
- Run every offer you are considering before speaking to anyone.
Worth knowing
Time sits in the exponent and the amount is a plain multiplier, which is why stretching a term costs so much more than it appears to. Doubling what you borrow roughly doubles the interest; doubling the term more than doubles it.
Frequently Asked Questions
Why is my lender’s figure slightly different?
Lenders vary in how they handle the first period, rounding and day-count conventions, and some fold fees into the balance so you pay interest on them. Expect small differences on the same inputs; a large one usually means a fee or insurance is included somewhere you have not spotted.
Should I use APR or the nominal rate?
APR, because it is meant to include compulsory fees and is therefore comparable between offers. If a lender quotes only a nominal rate, ask for the APR — the gap between them is the cost they would rather not lead with.
Is a longer term ever the right choice?
It can be, if the shorter term would genuinely strain your budget — paying more interest for a payment you can reliably meet beats defaulting on a cheaper loan. The point is to make that trade knowingly rather than because it was the number on the form.
Does this account for overpayments?
No, it assumes the scheduled payment throughout. Overpaying reduces the balance early and removes all the future interest that balance would have generated, so the real saving is larger than a simple comparison suggests.
Is Loan Calculator free?
Yes. The Vootkit free plan includes 5 tool runs a day. Upgrade to Vootkit Pro for unlimited daily use, an ad-free workspace and saved workflows.
Are my files uploaded?
No. Loan Calculator runs entirely in your browser — your file is processed on your own device and never sent to a server. There is nothing for us to store or delete.
Do I need to install anything?
No. Loan Calculator works in any modern browser on desktop, tablet or phone. Open the page and start.
How often can I use it? Is there a daily limit?
On the free plan you get 5 tool runs a day. When you reach the limit you'll see a prompt to upgrade, and it resets the next day. Vootkit Pro removes the cap entirely for unlimited daily use.
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This tool processes everything locally in your browser. You can disconnect from the internet after the page loads and it will still work.