Free online Loan Calculator. Input loan amount, annual rate and term, auto-calculates monthly payment and total interest. Supports Equal Installment and Equal Principal repayment methods, with detailed amortization schedule. | No Sign-up · Data Never Leaves Your Device
Zero Dependencies · Works OfflineEnter loan amount, annual rate, and term; select repayment method
| Period | Monthly | Principal | Interest | Remaining Principal |
|---|
* Shows first 12 periods only; full schedule can be extrapolated
| Item | Equal Installment | Equal Principal |
|---|---|---|
| Monthly Payment | Fixed | Decreasing |
| total interest | Higher | Lower |
| Initial Burden | Lower | Higher |
| Best For | Stable income earners | Those with ample initial funds |
1. Input loan amount (e.g. 100000).
2. Input annual rate (e.g. 4.9%).
3. Select loan term (e.g., 30 years).
4. Select Repayment Method: Equal Installment or Equal Principal.
5. Click Calculate to view monthly payment, total interest and amortization schedule.
Equal Principal has lower total interest, but higher initial payment burden. Equal Installment has stable monthly payments, suitable for those with stable income. For example, a 1M loan over 30 years at 4.9%: Equal Principal saves about 170K in interest compared to Equal Installment.
Equal Installment has higher interest portion in early periods — the earlier you repay, the more interest you save. Equal Principal interest decreases over time, so early repayment later saves less. It's recommended to make early repayments within the first 1/3 of the loan term for maximum benefit.
Monthly Rate = Annual Rate ÷ 12. For example, with an annual rate of 4.9%, the monthly rate is approximately 0.4083%. This calculator automatically converts internally.