Loan calculator
Enter the amount, the annual rate and the term to see the monthly payment, the total interest and every payment.
- Principal
- Total interest
- Total repaid
| Month | Principal | Interest | Balance |
|---|
How the payment is calculated
This is a standard amortizing loan: the same payment every month, with interest charged on the remaining balance. Early payments are mostly interest; later ones are mostly principal.
Lower the total cost
A shorter term or a lower rate cuts the total interest the most. Extra payments early in the loan also help, if your lender allows them without a fee.
Keep track after you sign
Add the loan to Spendry to see the payments left, the end month and a reminder before every payment.
More guides
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