Loan Calculator

Calculate loan payments, interest rates, and amortization schedules. Compare equal principal and equal payment methods.

USD
%
years

How to Use the Loan Calculator

  1. Enter Loan Details: Input the loan amount, annual interest rate, and loan period.
  2. Choose Payment Type: Select between equal payment or equal principal repayment method.
  3. Calculate: Click 'Calculate' to see monthly payment and total interest.
  4. Early Repayment: Enter early payment details to calculate interest savings.

Payment Method Comparison

Equal Payment Method

Fixed monthly payment throughout the loan term. Higher interest portion early, increasing principal portion over time.

Equal Principal Method

Fixed principal payment each month. Higher payments initially, decreasing over time as interest decreases.

Loan Management Tips

  • Compare Rates: Shop around with multiple lenders to find the best interest rates and terms.
  • Early Payments: Make extra payments toward principal when possible to save on interest.
  • Payment Method: Choose the payment method that best fits your cash flow needs.
  • Total Cost: Consider total interest cost, not just monthly payment amount.