Loan Calculator
Calculate your loan payment, total principal, total interest and total repayment for any duration and payment frequency.
Enter the loan amount, interest rate and duration to see your repayment schedule. Interest-free loans (0%) are supported.
How repayments are calculated
Payments use the reducing-balance formula A = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the rate per period and n is the number of payments. For a 0% loan the amount is simply split evenly across all payments. Alongside the periodic payment, the tool shows the total principal, total interest and total repayment so you can see the full cost of borrowing.
Choosing a payment frequency
Monthly, quarterly and yearly frequencies are supported. The number of payments is the duration in years multiplied by the payments per year, and the interest rate is converted to a per-period rate automatically. Paying more frequently usually reduces the total interest slightly because the balance falls sooner.
When to use this calculator
- Comparing two loan offers with different rates or terms.
- Budgeting a home, vehicle or education loan repayment.
- Checking how much a shorter term saves you in total interest.
- Planning repayments for an interest-free instalment plan.
Related tools
If you only need a standard monthly instalment, the EMI calculator is quicker. To model savings growth instead of debt, use the compound interest calculator.