Loan Repayment Calculator

This calculator estimates the fixed monthly payment, total amount repaid and total interest for a standard amortizing loan, based on the loan amount, annual interest rate and term you enter.

FAQ

How is the monthly loan payment calculated?

It uses the standard amortization formula: the annual rate is converted to a monthly rate, and the payment is set so it covers interest plus principal in equal instalments until the balance reaches zero at the end of the term.

What happens to the interest-to-principal split over time?

Early payments are mostly interest because the balance is still high. As the balance falls, more of each equal payment goes toward principal, which is normal for an amortizing loan.

Can I compare two loans at once?

Yes, the calculator has a compare mode so you can put two amounts, rates or terms side by side and see the difference in monthly payment and total interest.

Does this calculator account for fees or insurance?

No. It covers principal and interest only, using the amount, rate and term you enter. Real loans often include arrangement fees, insurance or other charges that this tool does not model.

Is this a loan offer or approval?

No. It is a plain-maths illustration based on your inputs, not an offer, approval, or prediction of what a lender would charge you.

Illustration only. Not financial advice.