Loan Calculator
About this tool
Most mortgages and personal loans use equal installments: you pay the same amount every month, and each payment is split between interest and principal. Early on, most of the payment covers interest; toward the end, it mostly repays principal. This calculator applies the standard amortization formula to your loan amount, annual interest rate, and term, then shows the fixed monthly payment, the total interest you will pay over the life of the loan, and the total repayment. Try different terms to see the trade-off concretely: stretching a loan from 15 to 30 years lowers the monthly bill but can easily double the total interest. Note that real mortgage quotes also include taxes, insurance, and fees, and rates vary by lender and credit profile — use this as a planning estimate before talking to a bank, not as a final quote.
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