Loan calculator: payment, interest, instalments
Try:
Start typing or click an example
All lines
Start typing or click an example
Write the amount, the rate and the term as ordinary lines, then pmt(loan; rate; months). Change any of the three lines and the payment and the interest update.
pmt(amount; rate; months): the fixed monthly payment of an amortised loan. The rate is yearly and written with a percent sign: 6.5%.interest(amount; rate; months): the total paid on top of the amount borrowed.installment(amount; months): equal payments with no interest; any leftover cents go on the last month.deposit(amount; rate; months): what a savings deposit grows to with monthly compounding.Fees, insurance and promotional periods are not included, only the arithmetic of an amortised loan. Compare a bank's offer with the figures here and ask where the difference comes from.
| You type | You get |
|---|---|
| 1 580.17 | |
| 318 861.2 | |
| 91 679.99 | |
| 8 333.33 | |
| 1 149 342.03 |
A payment that stays the same every month: at first most of it is interest, at the end most of it is principal. Most consumer loans and mortgages work this way.
Write two calculations one under the other with different rates or terms and compare the payment and the interest. You can keep the rate on its own line and change only that.
An amount cannot always be divided evenly. The calculator splits it to the cent and shows the remainder in a note on the last payment.