Loan Calculator

Loan calculator for interest-only payments

A loan calculator helps you estimate the cost of borrowing before you apply, refinance, or compare lender offers. This interest-only loan calculator shows the regular payment needed to cover interest, the total interest paid over the selected term, and the estimated payoff amount if the principal is repaid at the end.

How this loan calculator works

This calculator multiplies the loan amount by the annual interest rate, then divides the interest cost into monthly, bi-weekly, or weekly payments. Because the estimate is interest-only, the payment does not reduce the principal balance. The total payoff estimate includes both the interest paid during the term and the original loan amount.

When an interest-only loan estimate is useful

Interest-only payment estimates can help with lines of credit, bridge financing, business loans, investment loans, construction financing, and other borrowing where cash flow matters before principal repayment begins. Comparing payment schedules can make it easier to plan around paycheques, business income, or upcoming expenses.

Compare loan amount, rate, and duration

Small changes in loan amount, annual interest rate, or loan duration can change the total cost of borrowing. Try different loan amounts and rates to understand how much interest may be paid before the principal is due. This can help you compare personal loans, business loans, private loans, and credit-line options with clearer numbers.

Estimate only

This free loan calculator is for planning and education. Actual loan payments, lender fees, compounding rules, repayment schedules, credit approval, prepayment terms, taxes, and interest rates can vary by lender, loan type, and credit profile.