Work out the monthly repayment and total interest on a loan.
The method behind this calculator
Enter the amount borrowed, the rate and the term to see your regular repayment and the total interest over the life of the loan.
How to fill it in
- Enter your figures in the fields provided.
- The result updates as you type.
- Review the breakdown below the main number.
The maths behind it
repayment = P × r ÷ (1 − (1+r)⁻ⁿ)
A worked example
The calculator opens with a loan amount of 250,000. On those figures the monthly payment is $1,580.17. Underneath, Monthly payment comes out at $1,580.17 and Total paid at $568,861.22. Change any field and every figure updates as you type.
Common questions
What affects my repayment?
The amount, rate and term. Longer terms lower the payment but raise total interest.
Can I repay early?
Extra payments reduce the balance and interest. See the debt payoff calculator.