Calculate monthly payment, total interest and amortization schedule instantly. Multi-currency, free, completely private — no data leaves your browser.
Principal amount, interest rate and loan term
EUR, USD, GBP or CHF
Payment, total interest, amortization and extra payment savings
How much goes to principal vs interest
First 12 payments and final summary
| # | Payment | Principal | Interest | Balance |
|---|
Want a guide on choosing the best loan for your business? Leave your email.
Need professional invoices for your business?
Create invoice for free →The monthly payment uses the formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly rate (annual rate / 12), and n is the number of payments. For example, a $10,000 loan at 5% for 5 years has a payment of about $188.71.
With a fixed rate, your payment stays the same for the entire term. With a variable rate, payments can change based on market rates (e.g., SOFR, LIBOR). Fixed rates offer certainty; variable rates may start lower but carry risk.
A table showing how each payment is split between principal and interest. Early payments are mostly interest; over time, more goes toward principal. Essential for understanding the true cost of a loan.
Yes, extra payments reduce the remaining principal faster, lowering total interest and shortening the term. Even $50-100 extra per month can save thousands. Check for prepayment penalties first.
The APR (Annual Percentage Rate) includes the interest rate plus additional fees (origination, insurance, etc.). It is always higher than the nominal rate and is the best indicator for comparing loan offers.
A general rule: loan payments should not exceed 30-35% of your net monthly income. If you earn $4,000/month, the recommended maximum is $1,200-1,400 including existing debts.
Generate professional texts, emails, bios and slogans in seconds. 10 free credits at sign up — no card needed.