Loan Payment Calculator
Simulate the monthly payment, total cost and amortization schedule of a loan in seconds.
Leave blank if you don't know this rate.
Amortization schedule (240 monthly payments)
| Month | Interest | Principal repaid | Remaining balance |
|---|---|---|---|
| 1 | 583,33 € | 576,59 € | 199 423,41 € |
| 2 | 581,65 € | 578,27 € | 198 845,15 € |
| 3 | 579,97 € | 579,95 € | 198 265,19 € |
| 4 | 578,27 € | 581,65 € | 197 683,55 € |
| 5 | 576,58 € | 583,34 € | 197 100,20 € |
| 6 | 574,88 € | 585,04 € | 196 515,16 € |
| 7 | 573,17 € | 586,75 € | 195 928,41 € |
| 8 | 571,46 € | 588,46 € | 195 339,95 € |
| 9 | 569,74 € | 590,18 € | 194 749,77 € |
| 10 | 568,02 € | 591,90 € | 194 157,87 € |
| 11 | 566,29 € | 593,63 € | 193 564,24 € |
| 12 | 564,56 € | 595,36 € | 192 968,89 € |
How is this result calculated?
The payment excluding insurance follows the standard fixed-rate amortizing loan formula M = P × [i × (1+i)^n] / [(1+i)^n − 1], where P is the borrowed amount, i the monthly interest rate (annual rate ÷ 12), and n the total number of monthly payments. If the rate entered is 0%, the calculation simply divides the principal by the number of monthly payments.
If a borrower's insurance rate is entered, its monthly cost (principal × annual insurance rate ÷ 12) is calculated independently and then added to the payment to obtain the total amount actually charged each month.
Frequently asked questions
What's the difference between the interest rate and the APR?+
The interest rate used here only serves to calculate the loan's monthly payment and interest. The APR (annual percentage rate) additionally includes application fees, insurance, and other related costs: it's the figure that actually lets you compare several loan offers with each other.
What impact does borrower's insurance have on the monthly payment?+
Borrower's insurance is calculated separately (amount borrowed × annual insurance rate / 12) and then added to the payment excluding insurance. Over a long loan, it can represent a significant share of the total cost of credit, which is why it's worth comparing insurance offers.
Is early repayment factored into this calculation?+
No, this simulator calculates a standard amortization over the entire duration entered, without early repayment. Early repayment reduces the outstanding principal sooner than planned and therefore lowers the total interest cost compared with the schedule shown here.
Does extending the loan term really reduce its cost?+
Extending the term lowers the monthly payment, but almost always increases the total cost of credit, since interest is paid for longer. This simulator lets you compare several durations to visualize this trade-off between monthly payment and total cost.
What happens if I enter an interest rate of 0%?+
With a rate of 0%, the usual formula would become undefined: the calculator then automatically falls back to a simple division of the borrowed amount by the number of monthly payments, with no interest and no risk of dividing by zero.