Loan Calculator
Calculate payments for amortized loans, deferred lump-sum loans, and bonds, with configurable compounding and payment frequency.
Amortized Loan: Paying Back a Fixed Amount Periodically
Use this calculator for basic calculations of common loan types such as mortgages, auto loans, and student loans.
Example: 100,000 over 10 years at 6% (Monthly / Every Month) → payment ≈ 1,110.21 per month, total interest ≈ 33,224.60
Deferred Payment Loan: Paying Back a Lump Sum Due at Maturity
Calculate the total amount due, including interest, for a loan repaid in a single lump sum at maturity.
Example: 100,000 over 10 years at 6% (Annually) → amount due at maturity ≈ 179,084.77, total interest ≈ 79,084.77
Bond: Predetermined Lump Sum Paid at Loan Maturity
Calculate the amount received today in exchange for a predetermined lump sum paid back at maturity.
Example: 100,000 due in 10 years at 6% (Annually) → amount received today ≈ 55,839.48, total interest ≈ 44,160.52
Understanding Loan Calculations
An amortized loan is paid back with fixed periodic payments — part of each payment covers interest, and the rest reduces the principal, until the balance reaches zero at maturity (this is how most mortgages, auto loans, and personal loans work). A deferred payment loan has no periodic payments at all — the entire principal plus all accrued interest is due in a single lump sum at maturity. A bond works the same way in reverse: instead of entering the amount borrowed, you enter the fixed amount due at maturity, and the calculator finds how much money you'd receive today (the present value) in exchange for that future payment.
The interest rate you enter is a nominal annual rate. How often it compounds changes how much interest actually accrues: 'Monthly (APR)' compounds the rate 12 times a year, while 'Annually (APY)' compounds it once a year — since annual compounding needs no conversion, the nominal rate and the effective annual rate are the same, which is why it's labeled APY. More frequent compounding (daily, or continuously) results in slightly more total interest for the same nominal rate.
The loan term is the total length of the loan, entered in years and months. For amortized loans, the Pay Back frequency sets how often payments are made — the calculator converts the compounding rate into the correct rate per payment period, even when the compounding frequency and payment frequency differ, so the total interest is always calculated consistently.
Disclaimer
This Loan Calculator is provided for general informational and educational purposes only. It is a reference tool that estimates payments, interest, and present/future values using standard financial formulas based on the values you enter — it does not constitute financial, legal, tax, or investment advice, and it is not a loan offer, quote, or pre-approval of any kind.
Calclity is not a bank, lender, broker, financial institution, or licensed financial advisor. The results shown are mathematical estimates only and may differ from actual figures offered by lenders, which can include additional factors such as fees, closing costs, insurance, taxes, points, credit history, prepayment penalties, and other loan-specific terms not accounted for in this calculator.
We make no guarantees regarding the accuracy, completeness, or applicability of these calculations to your specific financial situation. Before making any borrowing, lending, or investment decision, consult a qualified, licensed financial advisor, accountant, or lending professional who can evaluate your individual circumstances. Calclity and its operators accept no liability for any decisions made, or losses incurred, based on the use of this calculator.
Frequently Asked Questions
About this calculator
This loan calculator covers three ways a loan can be structured: an amortized loan repaid with fixed periodic payments (like most mortgages, auto loans, and personal loans), a deferred payment loan repaid as a single lump sum at maturity, and a bond, where you enter the fixed amount due at maturity and the calculator works backward to find how much you'd receive today. Compounding frequency and, for amortized loans, payment frequency are both configurable — the calculator converts between them internally so results stay accurate even when they differ.
- Amortized loan payments — Computes the fixed periodic payment, total of all payments, and total interest for a standard installment loan.
- Deferred payment loans — Computes the total lump sum due at maturity, including all accrued interest, for a loan with no periodic payments.
- Bond present value — Given a fixed amount due at maturity, computes how much money you'd receive today in exchange for that future payment.
- Flexible compounding — Supports annual, semi-annual, quarterly, monthly, daily, and continuous compounding, correctly converted to match the payment frequency.
- Amortization schedule — Expandable period-by-period breakdown of payment, principal, interest, and remaining balance.