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Loan Calculator

Enter the amount, the rate and the term — the payment appears at once. Add an extra payment each month and see how many months and how much interest it takes off.

Payment type

  • — Monthly payment
  • — Interest paid
  • — Total paid
  • — Actual term

Interest is charged on the outstanding balance, month by month — that is why paying early in the first years saves several times more than at the end.

Show schedule
Month Payment Principal Interest Balance

How to use

  1. Enter the loan amount and the annual rate from the offer.
  2. Set the term with the slider — the numbers update as you drag.
  3. Choose the payment type: equal payments or decreasing ones.
  4. Add a monthly extra payment to see the saving, and open the schedule to check any month.

Good to know

Why the interest is larger than rate × years

Interest is charged every month on what is still owed, not on the original amount. With equal payments the early months are almost entirely interest, and the balance falls slowly — which is why a 12% loan over five years costs far more than 12% × 5. The calculator walks month by month and shows exactly that, rather than multiplying three numbers together.

Shorten the term, not the payment

An extra repayment can go two ways: keep the payment and finish earlier, or keep the term and pay less each month. The first saves several times more, because every month you cut off is a month of interest that never accrues. The second only feels easier. Switch between them here and compare the two numbers before you sign anything.

Frequently asked questions

What is the difference between equal and decreasing payments?

Equal payments — an annuity — keep the same sum every month: convenient to plan, more expensive overall. Decreasing payments repay the principal in equal parts, so the first payments are the largest and every next one is smaller; the total interest is lower. Not every bank offers the second kind.

Does the calculator include fees and insurance?

No, it counts the loan itself. Insurance, account fees and commissions are added on top and can change the real cost noticeably — banks state them separately in the effective rate. Compare offers by that figure, not by the rate alone.

Why does my bank show a slightly different payment?

Banks round differently and sometimes count interest by actual days in the month rather than by twelfths of a year. The difference is usually a few units of currency per payment; the total interest and the shape of the schedule stay the same.

Is my data sent anywhere?

No. Everything is calculated on this page. Nothing about the amount, the rate or your plans leaves the device — there is no server involved at all.

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