Loan Calculator
Estimate your loan payment, total interest and repayment schedule — monthly, bi-weekly or weekly.
Runs in your browser — nothing is uploadedEnter values
Loan term in
Payments
Result
- Total paid
- $431,676.38
- Total interest
- $231,676.38
- Number of payments
- 360
- Interest share
- 53.7%
How it's calculated
Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
P = $200,000.00, r = 6% ÷ 12 = 0.5%, n = 360
Payment = $1,199.10
Repayment schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| $2,456.02 | $11,933.19 | $197,543.98 | |
| $2,607.51 | $11,781.71 | $194,936.47 | |
| $2,768.33 | $11,620.88 | $192,168.14 | |
| $2,939.08 | $11,450.14 | $189,229.06 | |
| $3,120.35 | $11,268.86 | $186,108.71 | |
| $3,312.81 | $11,076.41 | $182,795.91 | |
| $3,517.13 | $10,872.08 | $179,278.77 | |
| $3,734.06 | $10,655.15 | $175,544.71 | |
| $3,964.37 | $10,424.84 | $171,580.34 | |
| $4,208.89 | $10,180.33 | $167,371.45 | |
| $4,468.48 | $9,920.73 | $162,902.97 | |
| $4,744.09 | $9,645.13 | $158,158.88 | |
| $5,036.69 | $9,352.52 | $153,122.19 | |
| $5,347.34 | $9,041.87 | $147,774.85 | |
| $5,677.16 | $8,712.06 | $142,097.69 | |
| $6,027.31 | $8,361.90 | $136,070.38 | |
| $6,399.06 | $7,990.15 | $129,671.31 | |
| $6,793.74 | $7,595.47 | $122,877.57 | |
| $7,212.77 | $7,176.45 | $115,664.81 | |
| $7,657.63 | $6,731.58 | $108,007.17 | |
| $8,129.94 | $6,259.27 | $99,877.23 | |
| $8,631.38 | $5,757.84 | $91,245.86 | |
| $9,163.74 | $5,225.47 | $82,082.12 | |
| $9,728.94 | $4,660.27 | $72,353.17 | |
| $10,329.00 | $4,060.21 | $62,024.17 | |
| $10,966.07 | $3,423.14 | $51,058.10 | |
| $11,642.43 | $2,746.78 | $39,415.67 | |
| $12,360.51 | $2,028.70 | $27,055.16 | |
| $13,122.88 | $1,266.33 | $13,932.27 | |
| $13,932.27 | $456.94 | $0.00 |
About Loan Calculator
Before taking a loan, it helps to know the regular payment and how much interest you will pay in total. This calculator estimates both for monthly, bi-weekly or weekly payments, and shows a year-by-year schedule of how each payment splits between interest and principal.
Use it to compare offers from different lenders, choose a loan term or see how a lower rate changes the total cost.
When to use it
- Personal, car and home loans.
- Comparing bank or financing offers side by side.
- Deciding between a shorter and a longer loan term.
- Planning a budget around a fixed monthly payment.
Tips for better results
- A longer term lowers each payment but increases the total interest you pay.
- Compare loans using the APR (annual percentage rate), which includes most fees.
- Check whether the lender charges for early repayment before choosing a long term.
How to use the Loan Calculator
- Enter the loan amount, interest rate and term.
- Choose how often you pay.
- Review the payment and the year-by-year schedule.
Frequently asked questions
Does this include fees or insurance?
No. It calculates principal and interest only. Lenders may add fees, insurance or taxes to your actual payment.
Which interest rate should I enter?
Enter the nominal yearly rate. The calculator divides it by the number of payments per year.
Why does paying bi-weekly save interest?
Bi-weekly payments add up to 26 half-payments a year — the equivalent of 13 monthly payments — so the principal falls faster and less interest accrues.
Is the result exactly what my bank will charge?
It is a close estimate based on a standard amortisation formula. Banks may round differently, add fees or insurance, or use a different day-count method, so treat the result as a planning figure.