Loan Calculator - Monthly Repayment | Financial Calculator

Free loan calculator for monthly repayment and total interest. Compare equal payment vs equal principal methods with a full amortization schedule.

How to Use

  1. Loan Amount — Enter the total amount you plan to borrow
  2. Annual Interest Rate — Enter the annual interest rate (%) for the loan product
  3. Loan Term — Enter the repayment period in years or months
  4. Repayment Method — Select Equal Payment (fixed monthly) or Equal Principal repayment
  5. Calculate — Click Calculate to see monthly payment, total interest, and repayment schedule

FAQ

Which repayment method saves more money?

Equal Principal results in less total interest, but initial payments are higher. Equal Payment keeps payments the same throughout. Choose based on your cash flow needs.

Will early repayment change the results?

Yes, early repayment may incur prepayment penalties and will differ from this calculator's results. Always check your loan agreement for exact terms.

Can I calculate variable rate loans?

This calculator assumes a fixed interest rate. For variable rate loans, use it as an estimate only, as payments will change as rates fluctuate.