Loan Calculator
Estimate your monthly payment, total interest and full repayment schedule.
Results
Monthly payment
The amount you have to pay each month (principal + interest). —
Total interest
All interest paid over the full term — the real cost of the loan. —
Total amount repayable
Principal + total interest. —
Repayment schedule
The amount you have to pay each month (principal + interest). The part of the payment that reduces the outstanding loan balance. The part of the payment that is the bank's income and does not reduce the balance. The principal still to be repaid at the end of the given month.
| Month | Payment | Principal repayment | Interest payment | Outstanding principal |
|---|
Glossary of terms
- Loan principal
- The amount you borrow and on which interest is charged.
- Annual interest rate
- The yearly cost of borrowing, expressed as a percentage of the principal. Once bank fees and insurance are taken into account, the real (effective) rate is higher.
- Loan term
- The repayment period, in months.
- Annuity repayment
- The monthly payment stays the same for the whole term. At first most of each payment goes towards interest; towards the end, mostly towards principal.
- Equal principal repayment
- Each month an equal portion of the principal is repaid, plus interest charged on the outstanding balance. Payments start higher and gradually decrease; total interest is lower than with annuity repayment.
- Monthly payment
- The amount you have to pay each month (principal + interest).
- Principal repayment
- The part of the payment that reduces the outstanding loan balance.
- Interest payment
- The part of the payment that is the bank's income and does not reduce the balance.
- Outstanding principal
- The principal still to be repaid at the end of the given month.
- Total interest
- All interest paid over the full term — the real cost of the loan.
- Total amount repayable
- Principal + total interest.
Results are indicative and do not constitute financial advice.