Loan Calculator
Estimate monthly payments, total interest and full amortization for any loan term and rate.
Cost breakdown
Balance over time
What if you paid more?
Compare your scenario against an extra contribution every month. Numbers update live.
Amortization schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|
Educational estimate only. Actual loan terms vary by lender, taxes, insurance and fees.
How to use
- Enter the loan amount you want to borrow.
- Set the annual interest rate and loan term in years.
- Choose whether to include extra monthly payments.
- Review the monthly payment summary, total interest, and total cost.
- Open the amortization schedule to see how each payment splits between interest and principal.
Frequently asked questions
What kind of loans does this work for?
Any fixed-rate amortizing loan, including mortgages, auto loans, and personal loans. It does not model variable-rate or interest-only products, which need different math.
How is the monthly payment calculated?
Using the standard amortization formula: P = L × r / (1 - (1 + r)-n), where L is loan amount, r is the monthly rate, and n is the total number of monthly payments.
How much do extra payments save?
Even small extra payments toward principal can shave years off the loan and thousands off the total interest, because they reduce the balance that future interest is calculated on. The calculator shows the savings exactly.
Does this include taxes, insurance, or fees?
No, it shows pure principal and interest. For mortgages, add property tax and homeowners insurance separately to get the full monthly housing cost.
How a fixed payment hides a moving split
An amortised loan charges one constant payment, but its composition shifts every month. Interest is computed on the remaining balance, so early payments are interest-heavy and late payments are principal-heavy. On a 200,000 EUR mortgage at 4% over 30 years (955 EUR/month), the first payment contains 667 EUR of interest and only 288 EUR of principal; twenty years in, the proportions have roughly reversed. Total interest over the full term: about 143,700 EUR... 72% of the amount borrowed... which is the number worth staring at before signing anything.
The two levers that actually matter
- Term length: the same 200,000 EUR at 4% over 15 years costs 1,479 EUR monthly but only 66,300 EUR total interest... 77,000 EUR less than the 30-year version.
- Early principal payments: money paid against principal early stops compounding against you for the entire remaining term. One extra payment per year on a 30-year mortgage typically shortens it by 4-5 years. Check for prepayment penalties first.
Comparing offers honestly
The advertised nominal rate is incomplete; the APR (in the EU, the legally mandated APRC) folds origination fees and mandatory costs into a single comparable figure, and it is the only number that lets two offers be ranked fairly. Run the calculator on both the optimistic and pessimistic rate if the loan is variable, and treat the monthly payment you can survive... not the one you qualify for... as your actual budget ceiling.
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