Calculations & UnitsLast updated: 2026-09-07

Loan Repayment Calculator

Calculate the monthly payment of a loan from the amount, rate and term, with total repayment and a year-by-year schedule for car, home or student loans.

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Key Formula & Conditions

Learning model

Computes monthly payment A = P × r / {1 − (1 + r)⁻ⁿ}, total repayment, total interest, and annual amortization balances from principal P, monthly rate r = annual / 12, and total payments n.

Instant local calculationInputs calculated locallyCheck units and assumptions

Quick-load example valuesLoads values directly

Loan amount (principal)

Annual interest rate (%)

Term (years)

Extra months (0-11)

Monthly payment

Total repayment

Total interest

Number of payments

Yearly schedule

Year	Paid in year	Interest in year	Balance at year end

Estimate under the annuity (equal payment) method. Lender-specific rounding, fees and daily accrual can shift actual payments by a small amount.

Worked Examples & Verified Values

Example

30M at 1.5% for 35 yrs

420 payments → Monthly ~91,855, Total interest ~8,579,239, Total ~38,579,239

Example

40M at 1.0% for 35 yrs

420 payments → Monthly ~112,914, Total interest ~7,423,982, Total ~47,423,982

Example

10M at 1.2% for 10 yrs

120 payments → Monthly ~88,475, Total interest ~616,990, Total ~10,616,990

Common Pitfalls & Calculation Rules

•Entering annual rate (%) directly as monthly rate r. Always convert to r = annual_rate / 100 / 12 and n = years × 12 for monthly amortization.
•Multiplying a rounded monthly payment by n to find total interest. Unrounded monthly amortization versus per-payment contractual rounding can differ by thousands.
•Confusing equal-payment (constant monthly total) with equal-principal (constant principal portion, higher initial payment, lower total interest).

Verification scope and citation information

Inputs and assumptionsCheck verification scope

Use worked examples within their stated inputs, units and assumptions. Tests cover specific cases at a specific time; they do not certify every input, expert review or standards compliance. Check the references and tool-specific verification notes, and enter your own access date when citing.

APA 7th Edition Format

Tools Hub. (2026). Loan Repayment Calculator [Interactive web calculation tool]. Retrieved Month Day, Year, from https://the-tools-hub.net/en/tools/loan-repayment-calculator/

BibTeX Entry (@misc)

@misc{tools_hub_loan_repayment_calculator_2026,
  author = {{Tools Hub}},
  title = {Loan Repayment Calculator},
  year = {2026},
  url = {https://the-tools-hub.net/en/tools/loan-repayment-calculator/},
  note = {Accessed: YYYY-MM-DD}
}

Detailed validation methodology: Editorial & QA PolicyEnter the date you accessed the tool

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How to use

1
Enter amount and rate
Fill in the loan amount, annual interest rate and term (years plus extra months).
2
Read the monthly payment
The monthly payment, total repayment and total interest update instantly.
3
Review the schedule
The yearly table shows payments, interest and remaining balance over time.

Features

Instant monthly payment from amount, rate and term
Total repayment and total interest shown together
Year-by-year schedule of payments, interest and balance
Everything computed in your browser; nothing is transmitted

Use cases

Car loan monthly burden

See the monthly payment from the financed amount and rate before you buy.

Home loan planning

Visualize total interest and yearly outlay before weighing a refinance or early repayment.

Comparing loan offers

Compare rate and term combinations and see the difference in total cost as numbers.

Details

Annuity (equal-payment) repayment keeps the monthly amount constant for the whole term. Each payment first covers the interest accrued on the remaining balance, with the rest reducing the principal — so early payments are interest-heavy and the principal share grows over time. The monthly payment follows the standard annuity formula: amount × monthly rate × (1 + monthly rate)^n ÷ ((1 + monthly rate)^n − 1).

This tool computes the monthly rate as the annual rate divided by 12 and rounds displayed amounts to whole currency units. Lenders handle rounding, daily accrual, fees and bonus-payment schedules differently, so real payments can differ from this estimate by a small amount. Compare numbers under the same rounding rules when evaluating offers.

Typical uses: estimating the monthly burden of a car or student loan, grasping the total interest and annual outlay of a long home loan, and weighing the interest savings of a shorter term or a refinance. The yearly balance column also shows when extra repayments bite the hardest. Results are estimates only — not a loan offer — and the definitive figures come from your lender's own simulation.

Financial Modeling

Step-by-step workflow

Compound Interest, Loans & Margins

Simulate long-term compound growth with Rule of 72, amortized loan repayments, and tax/profit margin metrics.

FAQ

What is annuity (equal-payment) repayment?

A repayment style where the monthly amount stays constant for the whole term. Early payments are mostly interest, and the principal share grows as the balance shrinks. It is the most common style for home and car loans.

Why does the result differ slightly from my lender's quote?

Lenders apply their own rounding, daily accrual, fees and bonus-payment schedules, so real payments can differ from this estimate by a small amount. Confirm exact figures with your lender's own simulation.

Can I calculate a 0% interest loan?

Yes. At 0%, the monthly payment is simply the amount divided by the number of payments, and total interest is zero.

Are the amounts I enter sent anywhere?

No. All computation happens locally in your browser and nothing you enter is transmitted.

How much total interest differs between equal-payment and equal-principal?

For 30,000,000 over 35 years at 1.5%, equal-payment total interest is ~8,579,239 versus 7,893,750 for equal-principal (a difference of ~685,489), though equal-principal starts with a higher initial monthly payment (~108,929 vs. ~91,855).

Which prepayment type saves more interest: term reduction or payment reduction?

For the same prepayment amount and timing, shortening the remaining term (term reduction) saves significantly more cumulative interest than reducing the monthly installment over the original term.

Related guide

Guide

Loan Repayment Formula & Amortization Guide: Equal Payment vs. Equal Principal & Prepayment

Master the monthly loan payment formula, compare equal-payment and equal-principal amortization with 30M–50M rate tables, evaluate prepayment strategies, and check safe debt-to-income limits.