Loan repayment comparison

See a fixed-rate monthly repayment schedule with principal and interest. Estimate a fixed-rate loan with equal principal repayments and decreasing interest.

Assumes a fixed annual rate divided by 12, equal scheduled monthly payments, and no fees, taxes or insurance. Interest and payments are rounded to cents each month; the last payment is adjusted to clear the balance. The loan may be paid off early because of rounding.

Each month’s interest is calculated on the remaining principal at the annual rate divided by 12. Principal and interest are rounded to two decimals; any leftover cents are allocated to the first instalments. Fees, insurance and changing rates are excluded.

Loan amortization calculator · Equal principal loan calculator