Loan Calculator

How to Use Enter the loan principal, annual interest rate, and loan term in months. Select the repayment method: equal principal-and-interest (annuity) or equal principal reduction. Monthly payment, total interest, and total repayment amount are calculated automatically. Review the amortization schedule to see how principal and interest proportions change over time. Who Is This For Anyone evaluating a mortgage or car loan, borrowers comparing loan terms to choose the best option, and finance teams who need to simulate the impact of interest rate changes on monthly payments. Key Features • Equal payment (annuity) / equal principal repayment method selection • Monthly payment calculation • Total interest and total repayment display • Month-by-month amortization schedule • Interest rate scenario comparison Frequently Asked Questions Q: Which is better — equal payment or equal principal repayment? A: Equal principal repayment results in lower total interest but higher early payments. Equal payment (annuity) keeps the monthly amount constant, making budgeting easier. Q: What happens if I make a lump-sum early repayment? A: This tool calculates the standard plan. Contact your lender for a customized schedule that includes early repayment. Q: How do I calculate for a variable-rate loan? A: Run the calculation multiple times with different rates to see the payment range under various rate scenarios. Tips A difference of just 0.5% in interest rate can translate to hundreds of dollars in extra interest over a 10+ year loan. Use this tool to simulate multiple scenarios before signing. When calculating your debt-to-income ratio, the monthly payment figure from this tool is the key input.