Loan Calculator
Estimate monthly payments, total interest and payoff plans.
How to use
- Enter the loan amount, the annual interest rate (%) and the term in years (decimals allowed) — results update live as you type.
- The term is entered in years: 20 years means 240 installments, and 1.5 years is converted to 18. The tool uses the equal-payment (annuity) method, so the monthly amount is fixed.
- The results show the monthly payment, the total repayment and the total interest. The "Repayment split" row and its bar visualize how much of the total repayment goes to principal versus interest — a larger interest share means a more expensive loan.
- With a 0% annual rate, the monthly payment is simply the principal divided by the number of installments and the bar is 100% principal.
- Out-of-range or invalid inputs show a red error message; click "Copy result" to copy all figures at once.
FAQ
What does "equal payment" (等额本息) mean?
It is the annuity method: every monthly payment is identical, with the principal share rising and the interest share falling each month. The formula is M = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r is the monthly rate (annual rate ÷ 12) and n is the number of installments (years × 12).
What is the difference from equal-principal (等额本金) loans?
With the equal-principal method the principal part is fixed and the payment decreases over time, usually with less total interest but heavier early payments. The equal-payment method used here keeps monthly amounts constant, which is easier to budget. To compare plans, check figures from your lender.
Why may the result differ slightly from my bank statement?
Actual repayments can be affected by the disbursement date, first-payment date, interest-day counting rules, fees or early repayment, and banks may count days slightly differently. Use this tool for budgeting — the loan contract and bank statements are authoritative.
Can the interest rate be 0?
Yes — that means an interest-free loan: the monthly payment equals the principal divided by the number of installments, total interest is 0 and the interest share of the bar is 0%. The rate must be between 0 and 100% and the term between 0 and 50 years.