Loan Calculator

Compare loan payments, total interest and payoff timelines.

Loan Calculator

Fast online calculation engine

Loan Principal Amount

Interest Rate (% p.a.)

Tenure (Years)

Monthly EMI2,124.7

Total Interest27,482.27

Total Payment127,482.27

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What does Loan Calculator do?

A flexible loan calculator that solves for the payment, and lets you compare weekly, fortnightly and monthly repayment frequencies. It shows how much interest each option costs over the life of the loan.

How to Use Loan Calculator

1
Enter the amount and rateThe principal and the annual interest rate.
2
Set the termHow long you have to repay, in years or months.
3
Choose a frequencyCompare paying weekly, fortnightly or monthly.
4
Review the totalsLook at total interest, not just the repayment amount.

Key Features

Weekly, fortnightly, monthly and quarterly repayment frequencies
Side-by-side comparison of what each frequency costs in total interest
Full repayment schedule with running balance
Handles a zero-interest loan without dividing by zero

Frequently Asked Questions

Does paying fortnightly really save money?

It can. Twenty-six fortnightly payments of half the monthly amount equals thirteen monthly payments a year rather than twelve, so you clear the principal faster. The comparison table shows exactly how much that saves on your numbers.

What is the difference between the interest rate and the APR?

The interest rate covers only interest. The APR also folds in fees, so it is the fairer number for comparing lenders. This calculator uses the plain interest rate you enter.

Can I model extra repayments?

Shorten the term to see the effect. Reducing a 5-year term to 4 shows both the higher payment required and the interest you avoid, which is the same trade-off an extra repayment makes.

Is a fixed or variable rate assumed?

Fixed. The calculation assumes the rate you enter applies for the whole term. If your rate can change, run the calculation again at a higher rate to see how exposed you are.

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