Loan payment calculator
Enter the loan amount, the interest rate and the term and see at once your monthly payment, how much interest you pay in total and how your remaining debt falls each year. Choose between annuity (fixed payment) and linear (falling payment).
The amount you borrow.
The yearly rate (nominal), for example 6.5.
In years or months, depending on your choice.
Fill in the fields; the answer appears here straight away.
How it's worked out
How it works
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Enter the values
Type the numbers or the formula. Decimals may use a point or a comma. No idea? Click Fill in an example.
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Instant answer
The answer appears as you type, with the most important intermediate values.
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See the working
Under "How it's worked out" you see the steps, handy for checking your own calculation.
Annuity or linear?
- Annuity: you pay the same amount every month. At first most of it is interest, later mostly repayment. This is how most personal loans and mortgages work.
- Linear: you repay an equal amount of the loan every month, plus interest on what is left. The first payment is the highest and then it falls. You pay less interest in total.
An example
A loan of 25,000 at 6.5% interest a year over 5 years:
- Annuity: 489.15 a month, 4,349.22 in interest in total.
- Linear: 552.08 in the first month (416.67 repayment plus 135.42 interest), falling to about 419, and 4,130.21 in interest in total.
A loan of 200,000 at 4% over 20 years costs 1,211.96 a month as an annuity and 90,870.56 in interest.
How it is calculated
The monthly payment of an annuity is amount × r ÷ (1 − (1 + r) ^ −n), where r is the monthly rate (yearly rate ÷ 12) and n is the number of months.
Good to know
This is an indication with a fixed rate. Fees, insurance, tax and rate changes are not included, and lenders may calculate the interest differently. For a real loan, always check the lender's offer.
Frequently asked questions
Is the loan payment free?
Yes. The loan payment is completely free, with no account, sign-up or usage limit.
How accurate is the result?
The tool calculates with your browser's number precision. For important calculations, always double-check what you entered.
Does it work on my phone?
Yes. The tool works in any modern browser on a phone, tablet or computer.