Finance & business
Loan & Mortgage Calculator
How to use this tool
- 1
Enter the amount borrowed, the annual rate and the term.
- 2
Choose the payment frequency and, if needed, open the options (insurance, fees, early repayment).
- 3
Read the payment, total cost and chart.
- 4
Browse the amortization schedule and export it to CSV.
Help
- Enter the amount, annual rate and term (in years or months): the payment, total interest and cost of credit show live. Currency is free: type any symbol you like, or none.
- The amortization schedule details every instalment (interest, principal repaid, remaining balance), by year or instalment by instalment, and exports to CSV for Excel or LibreOffice.
- In the options: insurance (as % per year of the initial principal), up-front fees, an extra payment with each instalment and a one-off early repayment. The tool shows the interest and time saved.
- The maths is done in whole cents (no rounding drift); the last instalment clears the principal exactly. The effective annual rate includes insurance and fees.
- Indicative result: the exact calendar, insurance on remaining balance, payment holidays or lender-specific fees can change the real amounts.
Related guide : Mortgages and compound interest: understanding the calculations
Frequently asked questions
How is a loan payment calculated?
For constant instalments: payment = principal × r ÷ (1 − (1 + r)^−n), where r is the annual rate divided by the number of payments per year and n is the total number of payments. Each payment first covers interest on the remaining balance, then repays principal.
Why does interest shrink over time?
Interest is computed on the remaining balance, which falls with every payment. Early on most of each payment goes to interest; near the end almost all of it repays principal.
What does early repayment change?
An extra payment directly reduces the remaining balance: later interest drops and the loan ends sooner at the same instalment. The tool compares with the same loan without the extra payment. Check with your lender for any early-repayment penalty.
Written and verified by the MaxyTools team · Updated on
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