Loan calculator

Loan repayment calculator

Estimate your regular payments, total loan cost and potential savings from additional payments.

Estimated result

Enter the loan information to estimate the payments.

The payment depends on the amount borrowed, interest rate, term and selected payment frequency.

A longer term generally reduces payments but increases the total interest cost.

An additional amount applied to each payment can reduce interest and accelerate repayment.

The calculator determines the fixed periodic payment required to repay the loan, then applies any extra payments directly against the principal.

Periodic Interest Rate ( $r_p$ ) :

r_p = \left(1 + \frac{R_{\text{annual}}}{100}\right)^{\frac{1}{n}} - 1

Regular Periodic Payment ( $P$ ) :

P = M \times \frac{r_p (1 + r_p)^{N}}{(1 + r_p)^{N} - 1}

M represents the loan amount and N the total number of scheduled payments over the loan term.

Balance Update With Extra Payments :

B_t = B_{t-1} \times (1 + r_p) - P - E

Extra payments (E) reduce the principal directly, shortening the payoff time and reducing total interest paid.

This calculation assumes a fixed interest rate for the entire loan term.

This tool is provided for informational purposes only and does not constitute professional financial or lending advice.

Calculations assume a constant fixed rate and do not account for fees, penalties, or lender-specific terms.

Before making any borrowing decision, consult a qualified financial advisor or your lender.

This calculator provides an estimate. It does not yet account for loan insurance, administrative fees, prepayment penalties, or rate changes.

Results are estimates and do not guarantee the actual terms offered by a lender.