A loan calculator is an easy and free online loan calculator that can be used to get the total amount of money that the borrower will pay within a specified rate, month, or year. A loan is a contract between a lender and a borrower such that the borrower receives a specified amount of money (the principal) that must be paid back in the future based on the agreed terms and conditions. The loan calculator can be used to calculate monthly payments, calculate the loan amount, calculate the interest rate and calculate the number of months to make the repayment.