Free Online Tool
Loan Interest Calculator
Compare estimated payments for amortized, equal principal, and interest-only loans.
The result will appear here.
Repayment Types
- Equal payment keeps monthly payments mostly stable
- Equal principal repays the same principal amount each month and starts higher
- Interest-only pays interest during the period and principal at maturity
Why Bank Results Can Differ
Banks may include execution date, first payment date, daily interest, discounts, fees, taxes, and early repayment conditions. This tool is for comparing repayment structures.
How to Use
- Enter loan amount, annual rate, and term.
- Choose a repayment type.
- Review monthly payment and total interest.
Examples
- 30,000,000 at 5% for 36 months
- Check monthly interest for an interest-only loan
Interpreting Loan Estimates
| Item | Scope of the calculation |
|---|---|
| Repayment type | Calculated from the repayment type selected in the UI. |
| Monthly rate | Uses the entered annual rate for monthly calculations. |
| Not normally included | Daily interest rules, preferential rates, fees, taxes, and early-repayment conditions may be excluded. |
This is a reference based on your inputs. Confirm actual repayment amounts with the lender and loan agreement.
Calculation and Conversion Notes
Amortized repayment is calculated as a fixed monthly payment. Equal principal repayment pays the same principal amount each month and calculates interest on the remaining balance. Interest-only repayment is a simple estimate where monthly interest is paid and the principal is repaid at maturity. Actual loan terms, fees, and lender rules can change the result.
What to Compare
Compare total interest, total repayment, and early-month cash flow, not only the monthly payment.
FAQ
How are equal payment and equal principal different?
Equal payment keeps monthly payments mostly stable. Equal principal repays the same principal each month and starts higher.
Why can bank results differ?
Banks may include execution date, daily interest, discounts, fees, taxes, and other loan conditions.
Are early repayment fees included?
No. Basic results do not include early repayment fees. Check the lender's terms.
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