Work out your payment, total interest, and full schedule for an amortized loan, a deferred payment loan, or a bond.
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This calculator covers the three ways a loan is typically structured. An amortized loan is paid back with fixed, regular payments until it's fully paid off, like a mortgage, car loan, or personal loan. A deferred payment loan has no regular payments at all, instead the entire principal and interest is due in one lump sum when the loan matures. A bond works in reverse, you receive a discounted amount now in exchange for paying back a fixed, predetermined face value later.
Pick the tab that matches your situation, enter your numbers, and get an instant breakdown, including a full payment schedule for amortized loans.
Compounding frequency is how often interest is calculated and added to the balance, most consumer loans compound monthly. Pay back frequency is simply how often you make a payment, weekly, monthly, or otherwise. These two don't have to match, a loan can compound monthly while you pay biweekly, for example, and this calculator handles that automatically by converting between the two.
For a deferred payment loan, enter the amount borrowed, term, rate, and compounding frequency, the calculator shows the single lump sum you'll owe at maturity and how much of that is interest.
For a bond, you already know the face value you'll owe at maturity, enter that as the "predetermined due amount," along with the term, rate, and compounding. The calculator works backward to show how much you'd actually receive today in exchange for that future obligation, this is how zero-coupon bonds are priced.
The amortization schedule breaks down every single payment across the life of an amortized loan, showing exactly how much of each payment goes toward principal versus interest, and what balance remains afterward. Early payments are weighted more heavily toward interest, with the principal portion growing over time, this is normal for amortized loans and is why paying extra toward principal early in a loan term saves the most on total interest.
A secured loan is backed by collateral, like a house for a mortgage or a car for an auto loan, if you default, the lender can seize that asset. Because the risk to the lender is lower, secured loans typically come with lower interest rates and are easier to qualify for. An unsecured loan, like most personal loans, student loans, and credit cards, has no collateral backing it, lenders rely instead on your credit history and income to assess risk, which usually means higher interest rates and stricter qualification requirements.
APR (annual percentage rate) is the yearly interest rate without accounting for compounding within the year, commonly used for loans. APY (annual percentage yield) accounts for compounding and reflects the actual amount of interest earned or paid over a year, commonly used for savings products. This calculator's "Annually" compounding option corresponds to APY, while "Monthly" is closer to how APR is typically applied.
Spreading the same loan amount over more payments naturally makes each individual payment smaller, but interest keeps accruing on the outstanding balance for longer, so the total interest paid over the full term ends up higher even though each payment is more manageable.
No, this covers principal and interest only. For a full mortgage payment including taxes and insurance, or other loan-specific fees, check with your lender for the complete cost breakdown.
For loans with a very large number of payments (like daily payments over many years), the table displays a large but capped number of rows for performance, with a note if it's been shortened.
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