Loan Repayment Calculator
Estimate the monthly payment, total interest and total cost of a fixed-rate loan.
Enter your values
Fill in every field marked as required, then choose Calculate.
Result
Results appear below the form and can be copied or downloaded.
How it works
Method
Standard amortisation formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the annual rate divided by 12 and n is the number of monthly payments. With a 0% rate the payment is simply P ÷ n.
Units
Amounts use the currency configured for this tool. The rate is a nominal annual percentage compounded monthly. The term is in years and is converted to whole months.
Examples
- 10,000 at 6.5% for 5 years: 195.66 a month, 1,739.69 interest in total.
- 250,000 at 4% for 30 years: 1,193.54 a month.
Limitations
Assumes a fixed rate and equal monthly payments. Fees, insurance, taxes, payment holidays and rounding rules used by a lender are not included, so a real loan offer can differ.
Frequently asked questions
How is the result calculated?
Standard amortisation formula: payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the annual rate divided by 12 and n is the number of monthly payments. With a 0% rate the payment is simply P ÷ n.
Are there any limitations?
Assumes a fixed rate and equal monthly payments. Fees, insurance, taxes, payment holidays and rounding rules used by a lender are not included, so a real loan offer can differ.