# Loan Sense — For simple-interest loans

> Financial calculator for understanding and planning simple interest loans. (iPhone/iPad app by Factorial Enterprises LLC.)

- Source: https://appshunter.io/ios/app/loan-sense/id1385899871 (this page in markdown: same URL + `.md`)
- Developer: [Factorial Enterprises LLC](https://appshunter.io/developer/1385899810)
- Category: Finance, Education
- Price: Free
- Rating: 5.00/5 from 5 App Store ratings · 1 written reviews indexed
- Age rating: 4+
- Requires: iOS 26.0 · 5 MB
- Languages: American English, French (France), German (Germany), Japanese, Chinese (Simplified, China), European Spanish
- Released: 2018-06-10
- Data updated: 2026-08-08
- Monetization: free
- User reviews in markdown: https://appshunter.io/ios/app/loan-sense/id1385899871/reviews.md

## What is Loan Sense?

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.

## Key features

- Simple interest loan calculation
- Visualize payment breakdowns
- Plan extra payments
- Calculate savings from extra payments
- Estimate early loan payoff
- Verify loan terms

## Recent user reviews (1 of 1)

All indexed reviews: https://appshunter.io/ios/app/loan-sense/id1385899871/reviews.md

### 5/5 — Used it for a Toyota Lease

*2018-06-09*

Very accurate reflection of the lease agreement.  Nice to have an independent confirmation of the terms of the lease

## Frequently asked questions about Loan Sense

### What is Loan Sense?

Loan Sense is a free financial calculator designed to help users understand simple interest loans. It breaks down payments, shows how extra payments affect savings, and estimates earlier loan payoff dates.

### Is Loan Sense free to use?

Yes, Loan Sense is completely free to use. There are no hidden costs or in-app purchases required to access its full functionality.

### Does Loan Sense have ads?

No, Loan Sense is ad-free. Users can enjoy an uninterrupted experience while managing their loan information.

### What devices does Loan Sense support?

Loan Sense is available on iPhones and iPads, making it accessible for Apple users on the go.

### How often is Loan Sense updated?

Loan Sense was last updated on March 19, 2026, indicating ongoing support and potential for future improvements. The current version is 1.1.

### What is the age rating for Loan Sense?

Loan Sense has an age rating of 4+, making it suitable for a wide range of users interested in personal finance.

### How does Loan Sense help with extra payments?

Loan Sense allows you to input extra payments and see the projected impact on your loan's payoff timeline and total interest paid. This helps you understand the financial benefits of paying more than the minimum.

### Can Loan Sense verify loan terms?

Yes, the app is designed to help users verify loan terms by allowing them to input loan details and see how the calculations align with the stated conditions.

## Version history (last 4 releases)

### 1.4.1 — 2026-08-06

New features: 
- New app design and flow. 
- Multiple languages.
- New user tour built in.
- Statement friendly: Enter loan amount, interest rate and payment to determine remaining loan term. 
- Add Cost of Living (COL) extra payment option.
- Users can now save and restore their loan settings.
- Text that comes from the Share link is more helpful.

### 1.3 — 2026-07-25

New features: 
- New app design and flow. 
- Statement friendly: Enter loan amount, interest rate and payment to determine remaining loan term. 
- Add Cost of Living (COL) extra payment option.
- Users can now save and restore their loan settings.
- Text that comes from the Share link is more helpful.

### 1.1 — 2026-03-19

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

### 1.0 — 2018-06-10

This app has been updated by Apple to display the Apple Watch app icon.

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## More apps by Factorial Enterprises LLC

- [Summon Social](https://appshunter.io/ios/app/summon-social/id1594774940)

All apps by Factorial Enterprises LLC: https://appshunter.io/developer/1385899810

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*Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-08-08.*