Loan Calculator

Understanding Loan Payments

Whether you're financing a car, consolidating debt, or paying for education, understanding your loan payments is essential for budgeting. This calculator shows you exactly how much you'll pay each month and how much of that goes to interest versus principal.

Auto Loan vs Personal Loan vs Student Loan

Auto loans typically offer lower rates (4-8%) because the car serves as collateral. Personal loans are unsecured and carry higher rates (8-15%). Student loans vary widely — federal loans offer fixed rates around 5-7%, while private student loans can range from 4-14% depending on creditworthiness.