Calculate your monthly, bi-weekly, or weekly loan payments instantly. Enter your loan amount, interest rate, and term to see how much you'll pay and how much goes toward interest.
Your estimated loan payment based on the selected frequency.
Total interest paid over the loan term.
Principal + interest over the full term.
This free Canadian loan calculator helps you plan your borrowing and repayment schedule. It works for personal,
car, and business loans with fixed interest rates.
In just three simple steps, see how much a loan will cost you and find the payment plan that best fits your budget.
Add your loan amount, annual interest rate, repayment term, and payment frequency (monthly, bi-weekly, or weekly). The calculator works for personal, car, and business loans.
Our calculator automatically displays your payment amount, total interest, and full repayment cost. You can also view a detailed amortization schedule to see how your balance decreases over time.
Change the loan amount, rate, or term to explore different repayment options. Compare scenarios until you find a plan that fits your goals and budget.
Each loan payment you make includes two parts: principal (the amount borrowed) and interest (the cost of borrowing). Early in the loan, a larger share of each payment goes toward interest. As the balance decreases, more goes toward principal.
This process, called amortization, shows how your loan balance declines over time and why extra payments can shorten your term and save money.
See how interest rate and loan term affect your payment amount, total interest, and total cost.
| Loan Amount | Rate | Term | Frequency | Payment | Total Interest | Total Payment |
|---|---|---|---|---|---|---|
| $10,000 | 6% | 3 Years | Monthly | $304 | $942 | $10,942 |
| $25,000 | 5% | 5 Years | Monthly | $472 | $3,335 | $28,335 |
| $50,000 | 7% | 10 Years | Monthly | $580 | $19,600 | $69,600 |
These examples are for illustration only. Actual payments vary based on your lender's rates, fees, and terms.
Compare other types of loans available in Canada and calculate your payments instantly using
our free, easy-to-use tools.
Understand how each loan payment is applied and track how much goes toward interest vs. principal.
Estimate your monthly mortgage payments and total interest costs for your home loan.
Calculate your car loan payments and find out how much interest you’ll pay over time.
See what your personal loan payments would be based on your loan term and interest rate.