Loan calculator

Monthly payment, total interest and full amortization — instantly.

Did you know?

A loan's monthly payment stays the same throughout the term, but the split between interest and principal shifts over time. Early payments are mostly interest; later payments are mostly principal.

Loan amount

Currency

EUR

Interest rate (% APR)

Loan term

€392.14

Monthly payment

Total paid€23,528.40
Total interest€3,528.40
Number of payments60

How loan payments are calculated

Your monthly payment is calculated using the standard amortization formula, based on the loan amount, monthly interest rate and number of payments.
The payment amount stays fixed for the entire loan term — only the interest/principal split changes each month.
A longer loan term lowers your monthly payment but increases the total interest you pay overall.

The amortization formula

Monthly payment = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments.

For example, a €20,000 loan at 6.5% APR over 5 years (60 payments) results in a monthly payment of roughly €392, with about €3,528 in total interest paid over the life of the loan.

FAQ

How is the monthly loan payment calculated?

Using the standard amortization formula based on principal, monthly interest rate and number of payments. Each payment is the same amount, but the split between interest and principal changes over time.

What is amortization?

Amortization is the process of paying off a loan through regular payments. Early payments are mostly interest; later payments are mostly principal.

Does a longer term always cost more?

Yes, in total interest paid. A longer term lowers the monthly payment but increases the total interest paid over the life of the loan.

Loan calculator

How loan payments are calculated

The amortization formula

FAQ

Related tools