Loan Calculator
See your monthly payment, total interest and amortisation schedule for any loan.
1 0002 000 000
%
0 %20 %
yr
1 yr40 yr
Monthly Payment
1,375.77
Yearly Payment
16,509.30
Total Interest
130,185.91
Total Repaid
330,185.91
Principal — 200,000.00 Interest — 130,185.91
Yearly Amortisation
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Year 1 | 10,858.98 | 5,650.32 | 194,349.68 |
| Year 2 | 10,540.25 | 5,969.04 | 188,380.64 |
| Year 3 | 10,203.55 | 6,305.74 | 182,074.90 |
| Year 4 | 9,847.86 | 6,661.44 | 175,413.46 |
| Year 5 | 9,472.10 | 7,037.19 | 168,376.27 |
| Year 6 | 9,075.15 | 7,434.15 | 160,942.12 |
| Year 7 | 8,655.80 | 7,853.49 | 153,088.63 |
| Year 8 | 8,212.81 | 8,296.49 | 144,792.14 |
| Year 9 | 7,744.82 | 8,764.48 | 136,027.66 |
| Year 10 | 7,250.43 | 9,258.86 | 126,768.80 |
| Year 11 | 6,728.16 | 9,781.13 | 116,987.67 |
| Year 12 | 6,176.43 | 10,332.87 | 106,654.80 |
| Year 13 | 5,593.57 | 10,915.72 | 95,739.08 |
| Year 14 | 4,977.84 | 11,531.45 | 84,207.62 |
| Year 15 | 4,327.38 | 12,181.92 | 72,025.70 |
| Year 16 | 3,640.22 | 12,869.08 | 59,156.63 |
| Year 17 | 2,914.30 | 13,594.99 | 45,561.63 |
| Year 18 | 2,147.44 | 14,361.86 | 31,199.78 |
| Year 19 | 1,337.32 | 15,171.98 | 16,027.80 |
| Year 20 | 481.50 | 16,027.80 | 0.00 |
How is a loan payment calculated?
The standard amortisation formula is: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1] where P is the principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments. Every payment covers the interest due that month plus a portion of the principal. Early payments are mostly interest; later payments are mostly principal.
What does total interest mean?
Total interest is the difference between what you repay in total and what you originally borrowed. On a long-term loan at high rates, total interest can exceed the original loan amount — the amortisation table above shows how this accumulates year by year.