Calculate monthly repayments, total interest, and see a full amortisation schedule for any loan.
Enter your loan amount, annual interest rate, and term. Click Calculate to see your monthly payment, total interest, and total amount repaid — plus a full amortisation schedule showing every payment.
This calculator uses the standard amortisation formula: M = 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. The result is a fixed monthly payment that pays off the loan exactly by the final month.
With an amortising loan, your payment is fixed, but the split between principal and interest changes every month. In the early months, most of your payment is interest. As the balance falls, more of each payment goes toward principal. This is why the amortisation schedule is so valuable — it shows exactly where your money goes each month.
Three strategies reduce the total interest you pay: (1) Get a lower interest rate. (2) Make a larger deposit to reduce the principal. (3) Make extra repayments. Even small additional monthly payments reduce the principal faster, which reduces future interest. If your loan allows it, this is the most effective way to save on borrowing costs.