Loan Calculator

Understanding Loan Payments

Loan payments are calculated using the loan amount, interest rate, and term length. Understanding how these factors interact helps you make better borrowing decisions.

Typical Interest Rates by Loan Type

• Auto loans: 5-10% for new cars, 7-14% for used
• Personal loans: 8-36% depending on credit
• Student loans: 5-8% federal, 4-14% private
• Home equity: 7-12% typically