Loan Payment Calculator
Use this loan payment calculator to compare installment repayment methods, including equal principal and interest, equal principal, total interest, and schedule preview.
Payment schedule preview
Preview shows the first 12 installments. Fees, taxes, and penalties are not included.
| Period | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | 4,891.54 | 3,537.37 | 1,354.17 | 246,462.63 |
| 2 | 4,891.54 | 3,556.53 | 1,335.01 | 242,906.10 |
| 3 | 4,891.54 | 3,575.80 | 1,315.74 | 239,330.30 |
| 4 | 4,891.54 | 3,595.16 | 1,296.37 | 235,735.14 |
| 5 | 4,891.54 | 3,614.64 | 1,276.90 | 232,120.50 |
| 6 | 4,891.54 | 3,634.22 | 1,257.32 | 228,486.28 |
| 7 | 4,891.54 | 3,653.90 | 1,237.63 | 224,832.38 |
| 8 | 4,891.54 | 3,673.70 | 1,217.84 | 221,158.68 |
| 9 | 4,891.54 | 3,693.59 | 1,197.94 | 217,465.09 |
| 10 | 4,891.54 | 3,713.60 | 1,177.94 | 213,751.49 |
| 11 | 4,891.54 | 3,733.72 | 1,157.82 | 210,017.77 |
| 12 | 4,891.54 | 3,753.94 | 1,137.60 | 206,263.83 |
Example Usage
- Calculate total interest for a 60-installment personal loan.
- Compare equal principal and interest against equal principal repayment.
- Preview principal, interest, payment, and remaining balance for each period.
Loan Payment Calculator Explained
A loan payment calculator helps you estimate installment repayment cost before taking a loan. This version supports equal principal and interest, where each payment stays fixed, and equal principal, where the principal part is fixed and payments usually decrease over time. After entering the loan amount, annual interest rate, installment count, and repayment method, the tool calculates total repayment, total interest, first and last payment, and a schedule preview. It is useful for personal loans, auto loans, consumer installments, and comparing the real cost of borrowing beyond the headline annual rate.
FAQ
What is equal principal and interest?
It is an amortized method where each installment is the same amount, while the principal share rises and interest share falls over time.
What is equal principal repayment?
It repays the same principal amount every period, so the payment usually starts higher and decreases as interest falls.
Does this include loan fees?
No. It focuses on principal and interest only, not fees, taxes, penalties, or early repayment changes.
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