Equal payments
At a fixed interest rate, the combined principal and interest payment is approximately constant. Interest makes up a larger share at the start and decreases as principal is repaid. The final payment settles the rounding balance.
Loan Calculator
Compare repayment methods, monthly payments, total interest and schedules
Fixed annual interest rate, monthly payments.
Calculate a mortgageEnter an amount, interest rate and term to see results.
How to use
- Select a currency and enter the loan amount.
- Enter your contract’s annual interest rate; use 0 for an interest-free loan.
- Choose years or months and enter a whole-number term.
- Choose equal payments or equal principal.
- Calculate, open the repayment schedule and export CSV if needed.
Understanding the results
Equal principal
Principal is distributed across the payment periods. Interest is calculated on the outstanding balance, so payments generally decrease. Principal amounts can differ by one cent because of rounding.
Interest and fees
The monthly rate is the annual rate divided by 12. Fees, changing rates, daily accrual and other compounding conventions are outside this estimate. Check that your contract uses the same calculation assumptions.
Currency and schedule
The currency selector changes the displayed unit; it does not convert amounts. Each month is rounded to two decimals. Totals are calculated from the schedule, including the adjusted final payment.