Loan Calculator
Monthly payment, total interest and the full schedule
Input
Currency does not matter — results come back in the same units.
360 payments in total
Most mortgages use the annuity method.
Result
Amortisation schedule
| No. | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | 506,685 | 131,685 | 375,000 | 99,868,315 |
| 2 | 506,685 | 132,179 | 374,506 | 99,736,136 |
| 3 | 506,685 | 132,675 | 374,011 | 99,603,461 |
| 4 | 506,685 | 133,172 | 373,513 | 99,470,288 |
| 5 | 506,685 | 133,672 | 373,014 | 99,336,617 |
| 6 | 506,685 | 134,173 | 372,512 | 99,202,444 |
| 7 | 506,685 | 134,676 | 372,009 | 99,067,768 |
| 8 | 506,685 | 135,181 | 371,504 | 98,932,586 |
| 9 | 506,685 | 135,688 | 370,997 | 98,796,898 |
| 10 | 506,685 | 136,197 | 370,488 | 98,660,701 |
| 11 | 506,685 | 136,708 | 369,978 | 98,523,994 |
| 12 | 506,685 | 137,220 | 369,465 | 98,386,773 |
Standard monthly-compounding formulas, for guidance only. Fees, early-repayment charges and grace periods are not included.
The headline figure lenders quote is the monthly payment; the number that actually matters is the total interest over the term. Both appear here, along with the schedule showing how the split between principal and interest shifts over time.
How to use
- 1 Enter the amount, the annual rate and the term.
- 2 Choose the repayment structure.
- 3 Compare the monthly payment against the total interest.
- 4 Open the schedule to see the principal-and-interest split each month.
Frequently asked questions
What is the difference between the repayment methods?
Annuity keeps the monthly payment constant, which is what most mortgages use. Equal principal starts higher and falls each month, and costs less interest overall. Interest-only pays nothing off until the term ends.
Why does so much of an early payment go to interest?
Interest is charged on the outstanding balance, which is largest at the start. On a 30-year loan the first few years are mostly interest — which is exactly why overpaying early saves so much.
How much difference does the rate make?
More than most people expect. On a 30-year loan, one extra percentage point adds roughly 20% to the total interest. It is worth far more attention than shaving the fees.