An online loan calculator can be helpful because calculating complex formulas on a regular calculator is error-prone and time-consuming. The Simple Loan Calculator will help you to figure out your estimated payments for different loan amounts, terms and interest rates. By using this tool, you can see how different repayment plans and interest rates and can affect your monthly payment.

The results you get are based on the information you enter, so the calculator can only provides estimates. It's still up to you when it comes to choosing a loan repayment plan.