Loan Sense

For simple-interest loans

Free · Designed for iPad. Not verified for macOS.

Financial calculator focused on simple interest loans. A simple interest loan is one where an amount of interest is calculated monthly according to the outstanding balance and interest rate. That's the cost of borrowing money, and becomes part of the payment. Money in the payment above the amount of interest goes to lessening the principal. Since the principal goes down each month, so does the interest owed. The total payment doesn't change, this results in a larger amount going to pay off the principal each month. The loan is statisfied when the principal is completely paid off, no matter how many payments were promised. Lots of loans are structured this way - they're commonly used for houses, cars, personal loans and other borrowing all around the world. At the very start of a loan, it's easy to see totals compared to how much is being borrowed. After the loan starts, things get much harder to understand. Making extra payments to the outstandig balance can make a huge difference over time, but it's not easy to see what the savings will be or how much earlier the loan will be satisfied. This calculator shows users where their money is going with each payment. Plan extra payments to see the savings. When shopping for a loan, verify the loan terms are correct.

Ratings & Reviews

  • 5.0
    out of 5
    5 Ratings

Simplified the application by removing: feature usage-tracking, dynamic configuration, YouTube content, social links and 2-week calculation method.

Version 1.1

The developer, Factorial Enterprises LLC, indicated that the app’s privacy practices may include handling of data as described below. For more information, see the developer’s privacy policy .

  • Data Not Collected

    The developer does not collect any data from this app.

    Privacy practices may vary, for example, based on the features you use or your age. Learn More

    Accessibility

    The developer has not yet indicated which accessibility features this app supports. Learn More

    Information

    Seller
    • Factorial Enterprises LLC
    Size
    • 5.3 MB
    Category
    • Finance
    Compatibility
    Requires iOS 26.0 or later.
    • iPhone
      Requires iOS 26.0 or later.
    • iPad
      Requires iPadOS 26.0 or later.
    • Mac
      Requires macOS 26.0 or later and a Mac with Apple M1 chip or later.
    • Apple Vision
      Requires visionOS 26.0 or later.
    Languages
    • English
    Age Rating
    4+
    Copyright
    • © 2026 Factorial Enterprises LLC
  • Privacy Policy

    • More by Factorial Enterprises LLC

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