Home or business loan
Input: 30000000, 5% annual, 60 months
Result: Monthly payment stays fixed while interest share gradually falls
Loan Calculator
Calculate monthly loan payments, total interest, and amortization schedules. Compare different loan amounts, interest rates, and repayment periods easily.
Loan Information
Formula and decision logic
Most installment loans are modeled as amortized payments, where each monthly payment includes both principal and interest.
Monthly payment = P × r × (1 + r)^n / ((1 + r)^n - 1)
Worked examples
Shorter repayment
Input: 10000000, 4% annual, 24 months
Result: Higher monthly payment, lower total interest
How to use this calculator
- 1Enter the loan amount
- 2Enter the annual interest rate and loan period
- 3View monthly payments, total interest, and repayment schedule
How to read the result
- A shorter term usually increases the monthly burden but lowers the total interest paid.
- Monthly payment is the cash-flow number, but total interest is the real cost number to compare.
Common input mistakes
- Comparing loans only by monthly payment without checking total interest.
- Treating annual interest rate as if it were a monthly rate.
Frequently asked questions
How is the monthly payment calculated?
Monthly payments are calculated using the standard amortization formula based on loan amount, interest rate, and loan term.
What is the difference between fixed and variable rates?
Fixed rates stay the same throughout the loan term, while variable rates can change based on market conditions.
Can I see the full amortization schedule?
Yes, the calculator provides a detailed breakdown of principal and interest for each payment period.
Does it support different repayment methods?
Yes, you can calculate for equal principal payments and equal installment payments.