Loan Fee Calculator

Loan Fee Calculator calculator can be used to calculate the total fee for a loan based on principal amount, interest rate, and loan term.

Input Parameters

Calculation Results

Calculation Formula

Total Fee = Principal × Interest Rate × Loan Term / 100

Where:
Principal = The initial amount of the loan
Interest Rate = Annual interest rate percentage
Loan Term = Duration of the loan in months

Loan Fee Calculator Calculator Usage Guide

Learn how to use the Loan Fee Calculator calculator and its working principles

How to Use the Loan Fee Calculator

  1. Enter the Principal Amount (the initial amount of the loan).
  2. Enter the Interest Rate as an annual percentage.
  3. Enter the Loan Term in months.
  4. Click the Calculate button to calculate the total fee.
  5. The Total Fee will be displayed in the results section.

Working Principle

The calculator uses the formula: Total Fee = Principal × Interest Rate × Loan Term / 100 This formula calculates the total fee based on the principal amount, interest rate, and loan term. The interest rate is divided by 100 to convert it from a percentage to a decimal.

Example

If you have a loan of $10,000 with an interest rate of 5% for 12 months, the total fee would be: $10,000 × 5 × 12 / 100 = $600