How Loan Calculator works
Whether comparing mortgage offers, planning a car loan or estimating a personal credit line, knowing your exact monthly payment before you sign is critical. This loan calculator uses the standard annuity formula to compute your fixed monthly repayment, the total you will repay over the term, and how much of that is interest.
Expand the amortization schedule for the principal-and-interest breakdown of every payment, where early instalments are mostly interest and later ones mostly principal. The figure is an estimate that excludes fees, insurance and rate changes, so it is a planning tool, not financial advice.