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Adjust any field and recalculate — figures are pre-filled with a typical example.
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How it works
Formula & explanation
Repayment Calculator uses the following calculation:
M = P × [ r(1+r)n ] / [ (1+r)n − 1 ]
This is a simplified model intended for planning and education. Real-world offers from lenders, institutions, or tax authorities may include additional fees, rules, or adjustments not reflected here.
FAQ
Frequently asked questions
Can I use this for student loans or personal loans?
Yes, this works for any fixed-rate loan repaid in equal periodic installments.
What happens if I choose a longer repayment term?
Your monthly payment drops, but you'll pay more in total interest over the life of the loan.
Does prepaying always reduce total interest?
Yes, as long as extra payments are applied to principal and there's no prepayment penalty.
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