💳 Loan Calculator
Any loan type, custom repayment plan, calculate APR
Loan Parameters
Remaining Balance
Annual Payment Breakdown
Amortization Schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | 2026-07-28 | $495.03 | $349.20 | $145.83 | $24650.80 |
| 2 | 2026-08-28 | $495.03 | $351.23 | $143.80 | $24299.57 |
| 3 | 2026-09-28 | $495.03 | $353.28 | $141.75 | $23946.29 |
| 4 | 2026-10-28 | $495.03 | $355.34 | $139.69 | $23590.94 |
| 5 | 2026-11-28 | $495.03 | $357.42 | $137.61 | $23233.53 |
| 6 | 2026-12-28 | $495.03 | $359.50 | $135.53 | $22874.03 |
| 7 | 2027-01-28 | $495.03 | $361.60 | $133.43 | $22512.43 |
| 8 | 2027-02-28 | $495.03 | $363.71 | $131.32 | $22148.72 |
| 9 | 2027-03-28 | $495.03 | $365.83 | $129.20 | $21782.89 |
| 10 | 2027-04-28 | $495.03 | $367.96 | $127.07 | $21414.93 |
| 11 | 2027-05-28 | $495.03 | $370.11 | $124.92 | $21044.82 |
| 12 | 2027-06-28 | $495.03 | $372.27 | $122.76 | $20672.55 |
60 total · showing first 12
💡 Prepayment Simulator
⚖️ Borrowing Comparison
Personal Loan
$495.03/mo
Interest: $4,702
Credit Card
$458.33/mo
APR 22%
HELOC
$177.08/mo
APR 8.5%
📐 How It Works
Equal Installment
PMT = P × r × (1+r)^n / ((1+r)^n - 1)
- P = Loan Principal
- r = Monthly Rate (APR ÷ 12)
- n = Total Periods (Years × 12)
Fixed monthly payment. Interest-heavy at first, principal increases over time.
Equal Principal
Monthly Principal = P ÷ n
Monthly Interest = Balance × r
Payment = Principal + Interest
Same principal each month. Interest decreases over time.
📊 Example
Loan $25,000, 7% APR, 5 years:
• Equal Installment：$495.03
• Total Interest：$4,701.80
❓ FAQ
What types of loans can this calculator handle?＋
This calculator supports equal installment, equal principal, interest-only, balloon payment, and lump sum repayment methods for any loan type.
What is APR and how is it different from interest rate?＋
APR (Annual Percentage Rate) includes fees and other costs, giving the true cost of borrowing. The nominal interest rate only reflects the base rate.
What is a balloon payment?＋
A balloon payment is a large final payment at the end of the loan term. Monthly payments are lower, but you must pay the remaining balance in full at the end.
When is interest-only loan a good choice?＋
Interest-only loans work for short-term financing needs, real estate investors, or those expecting a large future income. You pay only interest until the final payment.
How does loan term affect total interest?＋
Longer terms mean lower monthly payments but significantly more total interest. A 3-year loan at 7% costs far less total interest than a 10-year loan.
Can I make extra payments on any loan type?＋
Most lenders allow extra payments, but some charge prepayment penalties. Always check your loan agreement before making additional payments.
What happens if I miss a loan payment?＋
Late fees apply, and your credit score may be affected. Multiple missed payments can lead to default. Contact your lender immediately if you anticipate difficulty.
How do I choose the best repayment method?＋
Choose equal installment for predictable budgeting, equal principal to save interest, interest-only for short-term needs, and balloon for low initial payments.
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