Loan Calculator : Payment & Interest Rate Calculators | Finance Pro
Smart Loan Calculator
Complete Loan Analysis with Amortization Schedule
Loan Calculator
Payment Breakdown
Monthly Payment
Total Interest
Total Cost
Payment Schedule
| Month | Principal | Interest | Balance |
|---|
*Does not include fees. Consult lender for exact terms.
Understanding Loan Calculations
The average personal loan interest rate ranges from 6% to 36% based on credit score. Our calculator helps you understand the true cost of borrowing:
Key Loan Components
- Principal: Original loan amount
- APR: Annual Percentage Rate (interest + fees)
- Amortization: Gradual repayment schedule
- Collateral: Secured vs unsecured loans
How to Get Better Loan Terms
1. Improve Credit Score
740+ FICO score gets lowest rates
2. Compare Lenders
Check banks, credit unions, and online lenders
3. Shorter Terms
24-month loans have lower rates than 60-month
Frequently Asked Questions
What's the difference between APR and interest rate?
APR includes all loan fees, while interest rate is just the borrowing cost.
How does loan term affect payments?
Longer terms = lower payments but more total interest paid.
Can I pay off a loan early?
Check for prepayment penalties - many lenders allow early payoff.