Loan Calculators

365/360 Loan Calculator

Many commercial lenders quote a rate but accrue interest on a 360-day year while charging it across all 365 days — so you pay more than the headline rate suggests. See the difference.

Inputs

Loan amount

Quoted interest rate

Loan term (years)

Estimates only. Change any value to recalculate instantly.

Extra interest on the 365/360 method $1,505 effective rate is 7.10%, not 7.00%

30/360 payment $2,902.71

365/360 payment $2,915.25

30/360 total interest $98,325

365/360 total interest $99,831

Interest compared

Standard interest $98k
Extra from 365/360 $1.5k

Loan balance 30/360365/360

The 365/360 convention charges 365 days of interest at a daily rate built on a 360-day year, raising the effective rate by a factor of 365⁄360. On this loan that quietly adds $1,505 of interest.

Balance & extra interest by yearView table

Year	30/360 balance	365/360 balance	Extra interest
1	$232,100	$232,188	$238
2	$212,907	$213,070	$226
3	$192,326	$192,550	$212
4	$170,257	$170,525	$195
5	$146,593	$146,886	$175
6	$121,218	$121,513	$152
7	$94,009	$94,279	$126
8	$64,832	$65,048	$96
9	$33,547	$33,674	$62
10	$0	$0	$23

How this calculator works

This calculator runs entirely in your browser — nothing you enter is sent anywhere, and there is no sign-up. Change any input and the result, breakdown, and schedule update instantly.

Rate and cost fields are pre-filled with current benchmarks (Federal Reserve / Freddie Mac via FRED (St. Louis Fed)), so your first result is already realistic — replace them with your own quote to see your numbers. To weigh one option against another, use the loan comparison calculator.

Common questions

Is this calculator free, and do I need to sign up?

Yes and no — it is completely free and asks for no account or personal details. Every calculation happens in your browser, so nothing you type is stored or sent to us.

How accurate are the results?

The math is exact for the inputs you give it, but the defaults are national benchmarks — your real rate, fees, taxes, and insurance will differ. Treat the result as a close estimate to refine with a real quote.