Loan Interest Calculator
Calculate exactly how much interest you will pay over the life of a loan. Compare different rates and tenures to save money.
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Loan Interest Calculator
Calculate total interest payable on loans
How It Works
- Enter the total Loan Amount (Principal).
- Input the Annual Interest Rate offered by the bank.
- Set the Loan Tenure (duration in years or months).
- Click "Calculate Interest" to see the total interest cost.
Use Cases
- Comparing car loan offers from different dealers
- Estimating the true cost of a personal loan
- Planning for long-term debt repayment
- Financial literacy education
Frequently Asked Questions
Does this include processing fees?
No, this calculator only computes interest based on the principal and rate. Fees are usually extra.
Is this for flat rate or reducing balance?
This generally calculates interest on the total principal (Flat Rate estimate) for simplicity. Bank loans often use reducing balance.
How can I reduce my interest?
You can reduce total interest by choosing a shorter tenure or making a larger down payment to reduce the principal.
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