Loan Calculator
Calculate loan payments and download a full amortization schedule as CSV. For car loans, personal loans, lines of credit.
Runs entirely in your browser. Nothing is sent to our servers.
About this tool
Calculates monthly (or bi-weekly, weekly, etc.) payments for any loan, shows you the full amortization schedule, and lets you download it as a CSV file for your records or spreadsheet. Useful for car loans, personal loans, lines of credit, and student loans.
For mortgages, use the dedicated tool
Canadian mortgages have specific rules: semi-annual compounding, CMHC insurance for high-ratio loans, and the federal stress test. This generic loan calculator handles the math, but the Mortgage Calculator has those Canadian-specific features built in.
Compounding vs. payment frequency
These are two different things:
- Compounding frequency — how often interest is added to the principal. Most personal loans compound monthly; Canadian mortgages compound semi-annually; some lines of credit compound daily.
- Payment frequency — how often you make payments. Choosing more-frequent payments (weekly, bi-weekly) reduces total interest because the principal drops sooner between interest accruals.
The amortization schedule
Each row shows one payment: the date, the payment amount, how much went to interest, how much went to principal, and the remaining balance after that payment. Download as CSV to open in Excel, Numbers, or Google Sheets.
Frequently asked questions
- Why is more frequent payments better than just paying more monthly?
- It's not, exactly — paying more on a less-frequent schedule beats paying the same total on a more-frequent schedule. But: bi-weekly payments at half the monthly amount give you 26 half-payments per year, which is the equivalent of 13 monthly payments — an extra payment per year. That's the actual benefit.
- What does "accelerated bi-weekly" mean on my mortgage statement?
- Accelerated bi-weekly = monthly payment ÷ 2, paid every 2 weeks (26 times). Regular bi-weekly = (monthly × 12) ÷ 26, paid every 2 weeks. Accelerated is the one that pays off the loan faster, because over a year you pay 13 monthly amounts instead of 12.
- Why does Canadian mortgage compounding differ from US?
- Canadian federal law requires mortgages with payments more frequent than annually to be quoted in semi-annual compounded equivalent terms. US mortgages compound monthly. Same nominal rate produces slightly different effective rates because of this — a US 6% mortgage costs slightly more than a Canadian 6% mortgage.
- Can I model extra payments or skipped payments?
- Not in this version — it assumes regular equal payments. For prepayment modelling, export the CSV and modify it in a spreadsheet, or use a more advanced tool.
Last updated: May 17, 2026