How does the loan calculator compute monthly payment?
Equal-installment formula: payment = principal × monthly rate × (1+r)^n ÷ ((1+r)^n - 1), from amount, APR and term.
Equal installment vs declining principal?
Equal installment has fixed payments with more early interest; declining principal decreases monthly and costs less total interest. This is equal installment — the mainstream.
How do I enter the rate?
Enter APR as a percent, e.g. 4.5 for 4.5%; monthly rate converts automatically.
Is online calculation safe?
Safe — runs locally; amounts never upload.
What is it best for?
Mortgage budgeting, car-loan comparison, personal-loan evaluation, prepayment planning and returns estimation.
Are there limits on free use?
No. Free, no registration, unlimited.
Does it show total interest?
Yes — monthly payment, total interest and total paid, full cost picture.
Will it match the bank?
It's an estimate; floating rates and fees follow your bank contract — verify with real rates.