Estimate monthly payments, total paid, and total interest.
Enter the loan amount, the annual interest rate, and the loan term in years. The calculator computes a fixed monthly payment using standard amortization — the payment stays the same every month, but early payments are mostly interest while later payments are mostly principal — and shows the total amount paid and total interest over the full term.
Two loans with the same amount can cost very differently once the term changes: a longer term lowers the monthly payment but increases total interest paid, since you're borrowing the money for longer. Try the same amount and rate with a shorter and longer term to see that trade-off directly in the "Total paid" and "Interest" figures.
A fixed monthly payment hides a shifting split between interest and principal underneath it. Interest is charged on whatever balance you still owe, which is highest at the very start of the loan. With this page's default numbers — €10,000 at 5% over 5 years, a €188.71 monthly payment — about €41.67 of the very first payment is interest, roughly 22% of it, with the remaining €147.05 reducing the principal. That interest share shrinks every month as the balance falls, so by the final payment almost the entire €188.71 goes to principal. This is also why paying extra toward an early payment saves more total interest than the same extra amount paid near the end of the term.
The calculator splits the loan amount evenly across the number of months, with no interest added — useful for interest-free financing offers.
No, it's principal and interest only. Add any origination fees, insurance premiums, or taxes on top of the monthly payment shown here.
Yes, this calculator assumes a standard fixed-rate loan with equal monthly payments. A variable-rate loan would need to be recalculated whenever the rate changes.
Interest is charged on whatever principal you still owe, and that balance is at its highest right at the start of the loan. With this page's default numbers (€10,000 at 5% over 5 years), roughly €41.67 of the first ~€189 monthly payment is interest — about 22% of that payment. By the final month, almost the entire payment goes to principal, since so little balance is left to charge interest on.