Loan calculator

Find your monthly payment, how much you pay in interest and the total at the end of the loan. Works with any currency.

Nsonaazụ gị ga-apụta ebe a Dejupụta mpaghara ndị a ma pịa Calculate loan.

How we calculate

We use fixed payments (the amortization method used by most loans worldwide). Early payments cover more interest; over time, more of each payment goes to the amount you borrowed.

Payment = Amount × i ÷ (1 − (1 + i)⁻ⁿ)

i = monthly rate as a decimal · n = months. A yearly rate becomes the equivalent monthly rate: i = (1 + yearly rate)^1/12 − 1.

Ajụjụ ndị a na-ajụkarị

Which rate should I use?

The rate on your contract or offer. If it is a yearly rate, choose “per year” and the calculator converts it.

Does it include fees and insurance?

No. It only shows interest and principal; fees, taxes and insurance raise the total cost.

Does it work for car loans or mortgages?

Yes, for contracts with fixed payments. Decreasing payments use a different calculation.

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