Loan & Mortgage Calculator

Calculate monthly payments, total interest, and full amortization schedule for any loan.

$

Monthly Payment

$1,610.46

Total Interest

$279,767.35

Total Payment

$579,767.35

Loan Summary

Principal Amount$300,000
Interest Rate5% per year
Loan Term30 years (360 months)
Repayment TypeReducing Balance
Interest to Principal Ratio93.3%

How the Loan Calculator Works

Our loan calculator supports two common repayment methods:

1. Reducing Balance (Amortizing Loan / EMI)

This is the standard method used for mortgages, car loans, and most personal loans. Your monthly payment stays the same, but the portion going to principal increases over time while the interest portion decreases. The formula used is the standard amortization formula:

M = P × r × (1+r)ⁿ / [(1+r)ⁿ - 1]

2. Flat Rate (Simple Interest)

Interest is calculated on the original principal for the entire loan term. Total interest = Principal × Rate × Years. This method results in higher total interest but equal principal and interest payments each month.

Important: Enter your own interest rate based on your lender or country's current market rates. Default values are examples only.

⚠️ Disclaimer

This calculator provides estimates based on standard mathematical formulas only. It does not account for taxes, insurance, fees, or country-specific regulations. Results are for informational purposes and should not be considered financial, medical, or legal advice. Always consult a qualified professional before making important decisions.