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Loan Calculator

Monthly repayment, total interest and a full amortisation schedule.

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Overpayments come straight off the principal, so they save interest for the whole remaining term.

#PaymentPrincipalInterestBalance

Monthly payment

—

Total interest—
Total repaid—
Number of payments—
Interest as % of loan—

Where your money goes

Principal—

Interest—

Quick Tool Overview

The Loan Calculator gives the monthly repayment, the total interest over the life of the loan and the total cost, with a full amortisation schedule breaking every payment into principal and interest. An overpayment field shows how much a modest extra payment actually saves.

What it does
Calculates repayments, total interest and an amortisation schedule
You give it
A loan amount, an annual rate and a term
You get back
The monthly payment, total cost and a payment-by-payment table
Best for
Personal loans, car finance and comparing lender offers
Calculators Free, unlimited use No sign-up Runs in your browser

About the Loan Calculator

Enter the amount, the annual interest rate and the term to get the monthly repayment, the total interest you will pay over the life of the loan, and the total cost. A full amortisation schedule breaks every payment into principal and interest.

The schedule is the part worth reading. Early payments on an amortising loan are mostly interest, and only in the second half of the term does the balance start falling quickly. That is why overpaying early saves so much more than overpaying late, and the extra payment field lets you see exactly how much: a modest monthly overpayment on a long loan often removes years from the term and a large share of the total interest.

Key features of the Loan Calculator

Full amortisation schedule

Every payment is split into principal and interest, so you can see the balance actually falling.

Why overpaying early matters

Early payments are mostly interest and the balance only falls quickly in the second half of the term — the schedule makes that visible.

Overpayment modelling

A modest monthly overpayment on a long loan often removes years from the term and a large share of the total interest.

Total cost, not just the monthly

The headline number lenders quote is the payment; the number that matters is what you repay in total.

Instant comparison

Change the rate or term and every figure updates, which makes comparing two offers a few seconds' work.

How to use the Loan Calculator

  1. 1

    Enter the loan amount

    The principal you are borrowing, after any deposit or down payment.

  2. 2

    Set the rate and term

    Enter the annual interest rate and the length of the loan in years or months.

  3. 3

    Add any overpayment

    Enter a regular extra payment to see how much interest and time it saves.

  4. 4

    Review the schedule

    The table shows the principal, interest and remaining balance for every payment.

Frequently asked questions

With the standard amortisation formula: the principal multiplied by the monthly rate, divided by one minus one plus the monthly rate raised to the negative number of payments. The monthly rate is the annual rate divided by twelve.

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