Loan calculator

Work out the monthly payment and total cost of a loan or mortgage, with a full repayment schedule.

Loan amount

Interest rate (per year)

Term

Up to 50 years

Monthly payment: 1,073.64
Total interest: 186,511.57
Total paid: 386,511.57

Amount borrowed 52%Interest 48%

For guidance only, not financial advice. Real offers depend on fees, taxes and terms. Check the exact figures with your bank, lender or accountant before you decide.

Repayment schedule by year

Year	Interest	Principal	Balance
1	9,932.99	2,950.73	197,049.27
2	9,782.02	3,101.70	193,947.57
3	9,623.33	3,260.38	190,687.19
4	9,456.53	3,427.19	187,260.00
5	9,281.19	3,602.53	183,657.46
6	9,096.87	3,786.85	179,870.62
7	8,903.13	3,980.59	175,890.03
8	8,699.48	4,184.24	171,705.79
9	8,485.40	4,398.32	167,307.47
10	8,260.38	4,623.34	162,684.13
11	8,023.84	4,859.88	157,824.25
12	7,775.20	5,108.52	152,715.73
13	7,513.84	5,369.88	147,345.84
14	7,239.10	5,644.62	141,701.22
15	6,950.31	5,933.41	135,767.82
16	6,646.75	6,236.97	129,530.85
17	6,327.65	6,556.07	122,974.78
18	5,992.23	6,891.49	116,083.29
19	5,639.65	7,244.07	108,839.22
20	5,269.03	7,614.69	101,224.54
21	4,879.45	8,004.27	93,220.26
22	4,469.93	8,413.78	84,806.48
23	4,039.47	8,844.25	75,962.23
24	3,586.98	9,296.74	66,665.49
25	3,111.34	9,772.38	56,893.11
26	2,611.37	10,272.35	46,620.76
27	2,085.82	10,797.90	35,822.86
28	1,533.37	11,350.34	24,472.52
29	952.67	11,931.05	12,541.47
30	342.25	12,541.47	0.00

Every payment (360)

Payment	Interest	Principal	Balance
1	833.33	240.31	199,759.69
2	832.33	241.31	199,518.38
3	831.33	242.32	199,276.06
4	830.32	243.33	199,032.74
5	829.30	244.34	198,788.40
6	828.28	245.36	198,543.04
7	827.26	246.38	198,296.66
8	826.24	247.41	198,049.25
9	825.21	248.44	197,800.81
10	824.17	249.47	197,551.34
11	823.13	250.51	197,300.83
12	822.09	251.56	197,049.27
13	821.04	252.60	196,796.66
14	819.99	253.66	196,543.01
15	818.93	254.71	196,288.29
16	817.87	255.78	196,032.52
17	816.80	256.84	195,775.68
18	815.73	257.91	195,517.77
19	814.66	258.99	195,258.78
20	813.58	260.06	194,998.71
21	812.49	261.15	194,737.57
22	811.41	262.24	194,475.33
23	810.31	263.33	194,212.00
24	809.22	264.43	193,947.57
25	808.11	265.53	193,682.05
26	807.01	266.63	193,415.41
27	805.90	267.75	193,147.66
28	804.78	268.86	192,878.80
29	803.66	269.98	192,608.82
30	802.54	271.11	192,337.72
31	801.41	272.24	192,065.48
32	800.27	273.37	191,792.11
33	799.13	274.51	191,517.60
34	797.99	275.65	191,241.95
35	796.84	276.80	190,965.14
36	795.69	277.96	190,687.19
37	794.53	279.11	190,408.08
38	793.37	280.28	190,127.80
39	792.20	281.44	189,846.36
40	791.03	282.62	189,563.74
41	789.85	283.79	189,279.94
42	788.67	284.98	188,994.97
43	787.48	286.16	188,708.80
44	786.29	287.36	188,421.45
45	785.09	288.55	188,132.89
46	783.89	289.76	187,843.14
47	782.68	290.96	187,552.17
48	781.47	292.18	187,260.00
49	780.25	293.39	186,966.60
50	779.03	294.62	186,671.99
51	777.80	295.84	186,376.15
52	776.57	297.08	186,079.07
53	775.33	298.31	185,780.76
54	774.09	299.56	185,481.20
55	772.84	300.80	185,180.39
56	771.58	302.06	184,878.34
57	770.33	303.32	184,575.02
58	769.06	304.58	184,270.44
59	767.79	305.85	183,964.59
60	766.52	307.12	183,657.46
61	765.24	308.40	183,349.06
62	763.95	309.69	183,039.37
63	762.66	310.98	182,728.39
64	761.37	312.27	182,416.12
65	760.07	313.58	182,102.54
66	758.76	314.88	181,787.66
67	757.45	316.19	181,471.46
68	756.13	317.51	181,153.95
69	754.81	318.84	180,835.12
70	753.48	320.16	180,514.95
71	752.15	321.50	180,193.46
72	750.81	322.84	179,870.62
73	749.46	324.18	179,546.44
74	748.11	325.53	179,220.90
75	746.75	326.89	178,894.01
76	745.39	328.25	178,565.76
77	744.02	329.62	178,236.14
78	742.65	330.99	177,905.15
79	741.27	332.37	177,572.78
80	739.89	333.76	177,239.02
81	738.50	335.15	176,903.87
82	737.10	336.54	176,567.33
83	735.70	337.95	176,229.38
84	734.29	339.35	175,890.03
85	732.88	340.77	175,549.26
86	731.46	342.19	175,207.07
87	730.03	343.61	174,863.46
88	728.60	345.05	174,518.41
89	727.16	346.48	174,171.93
90	725.72	347.93	173,824.00
91	724.27	349.38	173,474.63
92	722.81	350.83	173,123.80
93	721.35	352.29	172,771.50
94	719.88	353.76	172,417.74
95	718.41	355.24	172,062.50
96	716.93	356.72	171,705.79
97	715.44	358.20	171,347.59
98	713.95	359.69	170,987.89
99	712.45	361.19	170,626.70
100	710.94	362.70	170,264.00
101	709.43	364.21	169,899.79
102	707.92	365.73	169,534.06
103	706.39	367.25	169,166.81
104	704.86	368.78	168,798.03
105	703.33	370.32	168,427.71
106	701.78	371.86	168,055.85
107	700.23	373.41	167,682.44
108	698.68	374.97	167,307.47
109	697.11	376.53	166,930.94
110	695.55	378.10	166,552.85
111	693.97	379.67	166,173.17
112	692.39	381.26	165,791.92
113	690.80	382.84	165,409.07
114	689.20	384.44	165,024.63
115	687.60	386.04	164,638.59
116	685.99	387.65	164,250.94
117	684.38	389.26	163,861.68
118	682.76	390.89	163,470.79
119	681.13	392.51	163,078.28
120	679.49	394.15	162,684.13
121	677.85	395.79	162,288.34
122	676.20	397.44	161,890.89
123	674.55	399.10	161,491.80
124	672.88	400.76	161,091.04
125	671.21	402.43	160,688.61
126	669.54	404.11	160,284.50
127	667.85	405.79	159,878.71
128	666.16	407.48	159,471.22
129	664.46	409.18	159,062.04
130	662.76	410.88	158,651.16
131	661.05	412.60	158,238.56
132	659.33	414.32	157,824.25
133	657.60	416.04	157,408.21
134	655.87	417.78	156,990.43
135	654.13	419.52	156,570.91
136	652.38	421.26	156,149.65
137	650.62	423.02	155,726.63
138	648.86	424.78	155,301.85
139	647.09	426.55	154,875.29
140	645.31	428.33	154,446.96
141	643.53	430.11	154,016.85
142	641.74	431.91	153,584.94
143	639.94	433.71	153,151.24
144	638.13	435.51	152,715.73
145	636.32	437.33	152,278.40
146	634.49	439.15	151,839.25
147	632.66	440.98	151,398.27
148	630.83	442.82	150,955.45
149	628.98	444.66	150,510.79
150	627.13	446.51	150,064.27
151	625.27	448.38	149,615.90
152	623.40	450.24	149,165.65
153	621.52	452.12	148,713.53
154	619.64	454.00	148,259.53
155	617.75	455.90	147,803.64
156	615.85	457.79	147,345.84
157	613.94	459.70	146,886.14
158	612.03	461.62	146,424.52
159	610.10	463.54	145,960.98
160	608.17	465.47	145,495.51
161	606.23	467.41	145,028.10
162	604.28	469.36	144,558.74
163	602.33	471.32	144,087.42
164	600.36	473.28	143,614.14
165	598.39	475.25	143,138.89
166	596.41	477.23	142,661.66
167	594.42	479.22	142,182.44
168	592.43	481.22	141,701.22
169	590.42	483.22	141,218.00
170	588.41	485.23	140,732.77
171	586.39	487.26	140,245.51
172	584.36	489.29	139,756.22
173	582.32	491.33	139,264.90
174	580.27	493.37	138,771.53
175	578.21	495.43	138,276.10
176	576.15	497.49	137,778.60
177	574.08	499.57	137,279.04
178	572.00	501.65	136,777.39
179	569.91	503.74	136,273.65
180	567.81	505.84	135,767.82
181	565.70	507.94	135,259.87
182	563.58	510.06	134,749.81
183	561.46	512.19	134,237.63
184	559.32	514.32	133,723.31
185	557.18	516.46	133,206.84
186	555.03	518.61	132,688.23
187	552.87	520.78	132,167.45
188	550.70	522.95	131,644.51
189	548.52	525.12	131,119.38
190	546.33	527.31	130,592.07
191	544.13	529.51	130,062.56
192	541.93	531.72	129,530.85
193	539.71	533.93	128,996.91
194	537.49	536.16	128,460.76
195	535.25	538.39	127,922.37
196	533.01	540.63	127,381.74
197	530.76	542.89	126,838.85
198	528.50	545.15	126,293.70
199	526.22	547.42	125,746.28
200	523.94	549.70	125,196.58
201	521.65	551.99	124,644.59
202	519.35	554.29	124,090.30
203	517.04	556.60	123,533.70
204	514.72	558.92	122,974.78
205	512.39	561.25	122,413.53
206	510.06	563.59	121,849.94
207	507.71	565.94	121,284.01
208	505.35	568.29	120,715.72
209	502.98	570.66	120,145.06
210	500.60	573.04	119,572.02
211	498.22	575.43	118,996.59
212	495.82	577.82	118,418.77
213	493.41	580.23	117,838.53
214	490.99	582.65	117,255.88
215	488.57	585.08	116,670.81
216	486.13	587.51	116,083.29
217	483.68	589.96	115,493.33
218	481.22	592.42	114,900.91
219	478.75	594.89	114,306.02
220	476.28	597.37	113,708.65
221	473.79	599.86	113,108.79
222	471.29	602.36	112,506.44
223	468.78	604.87	111,901.57
224	466.26	607.39	111,294.18
225	463.73	609.92	110,684.27
226	461.18	612.46	110,071.81
227	458.63	615.01	109,456.80
228	456.07	617.57	108,839.22
229	453.50	620.15	108,219.08
230	450.91	622.73	107,596.35
231	448.32	625.33	106,971.02
232	445.71	627.93	106,343.09
233	443.10	630.55	105,712.54
234	440.47	633.17	105,079.37
235	437.83	635.81	104,443.56
236	435.18	638.46	103,805.10
237	432.52	641.12	103,163.97
238	429.85	643.79	102,520.18
239	427.17	646.48	101,873.70
240	424.47	649.17	101,224.54
241	421.77	651.87	100,572.66
242	419.05	654.59	99,918.07
243	416.33	657.32	99,260.75
244	413.59	660.06	98,600.70
245	410.84	662.81	97,937.89
246	408.07	665.57	97,272.32
247	405.30	668.34	96,603.98
248	402.52	671.13	95,932.85
249	399.72	673.92	95,258.93
250	396.91	676.73	94,582.20
251	394.09	679.55	93,902.65
252	391.26	682.38	93,220.26
253	388.42	685.23	92,535.04
254	385.56	688.08	91,846.96
255	382.70	690.95	91,156.01
256	379.82	693.83	90,462.18
257	376.93	696.72	89,765.47
258	374.02	699.62	89,065.85
259	371.11	702.54	88,363.31
260	368.18	705.46	87,657.85
261	365.24	708.40	86,949.45
262	362.29	711.35	86,238.09
263	359.33	714.32	85,523.77
264	356.35	717.29	84,806.48
265	353.36	720.28	84,086.20
266	350.36	723.28	83,362.91
267	347.35	726.30	82,636.61
268	344.32	729.32	81,907.29
269	341.28	732.36	81,174.93
270	338.23	735.41	80,439.51
271	335.16	738.48	79,701.03
272	332.09	741.56	78,959.48
273	329.00	744.65	78,214.83
274	325.90	747.75	77,467.09
275	322.78	750.86	76,716.22
276	319.65	753.99	75,962.23
277	316.51	757.13	75,205.10
278	313.35	760.29	74,444.81
279	310.19	763.46	73,681.35
280	307.01	766.64	72,914.71
281	303.81	769.83	72,144.88
282	300.60	773.04	71,371.84
283	297.38	776.26	70,595.58
284	294.15	779.49	69,816.09
285	290.90	782.74	69,033.34
286	287.64	786.00	68,247.34
287	284.36	789.28	67,458.06
288	281.08	792.57	66,665.49
289	277.77	795.87	65,869.62
290	274.46	799.19	65,070.43
291	271.13	802.52	64,267.92
292	267.78	805.86	63,462.06
293	264.43	809.22	62,652.84
294	261.05	812.59	61,840.25
295	257.67	815.98	61,024.27
296	254.27	819.38	60,204.90
297	250.85	822.79	59,382.11
298	247.43	826.22	58,555.89
299	243.98	829.66	57,726.23
300	240.53	833.12	56,893.11
301	237.05	836.59	56,056.53
302	233.57	840.07	55,216.45
303	230.07	843.57	54,372.88
304	226.55	847.09	53,525.79
305	223.02	850.62	52,675.17
306	219.48	854.16	51,821.00
307	215.92	857.72	50,963.28
308	212.35	861.30	50,101.99
309	208.76	864.88	49,237.10
310	205.15	868.49	48,368.61
311	201.54	872.11	47,496.50
312	197.90	875.74	46,620.76
313	194.25	879.39	45,741.37
314	190.59	883.05	44,858.32
315	186.91	886.73	43,971.59
316	183.21	890.43	43,081.16
317	179.50	894.14	42,187.02
318	175.78	897.86	41,289.15
319	172.04	901.61	40,387.55
320	168.28	905.36	39,482.19
321	164.51	909.13	38,573.05
322	160.72	912.92	37,660.13
323	156.92	916.73	36,743.41
324	153.10	920.55	35,822.86
325	149.26	924.38	34,898.48
326	145.41	928.23	33,970.25
327	141.54	932.10	33,038.15
328	137.66	935.98	32,102.16
329	133.76	939.88	31,162.28
330	129.84	943.80	30,218.48
331	125.91	947.73	29,270.74
332	121.96	951.68	28,319.06
333	118.00	955.65	27,363.41
334	114.01	959.63	26,403.79
335	110.02	963.63	25,440.16
336	106.00	967.64	24,472.52
337	101.97	971.67	23,500.84
338	97.92	975.72	22,525.12
339	93.85	979.79	21,545.33
340	89.77	983.87	20,561.46
341	85.67	987.97	19,573.49
342	81.56	992.09	18,581.40
343	77.42	996.22	17,585.18
344	73.27	1,000.37	16,584.81
345	69.10	1,004.54	15,580.27
346	64.92	1,008.73	14,571.54
347	60.71	1,012.93	13,558.61
348	56.49	1,017.15	12,541.47
349	52.26	1,021.39	11,520.08
350	48.00	1,025.64	10,494.44
351	43.73	1,029.92	9,464.52
352	39.44	1,034.21	8,430.31
353	35.13	1,038.52	7,391.79
354	30.80	1,042.84	6,348.95
355	26.45	1,047.19	5,301.76
356	22.09	1,051.55	4,250.21
357	17.71	1,055.93	3,194.27
358	13.31	1,060.33	2,133.94
359	8.89	1,064.75	1,069.19
360	4.45	1,069.19	0.00

How it works

How loan repayments work

Most mortgages, car loans and personal loans are annuity loans: you pay the same amount every month, and each payment covers the interest for that month plus a slice of the amount you borrowed (the principal). The formula for the payment is:

payment = P × r ÷ (1 − (1 + r)^−n)

where P is the amount borrowed, r the monthly interest rate (the yearly rate ÷ 12) and n the number of monthly payments.

Example: 200,000 at 5% for 30 years is 360 payments at a monthly rate of 0.4167%, giving a payment of 1,073.64. Over the whole term you pay about 186,512 in interest, almost as much again as you borrowed.

Three ways to pay less interest

A shorter term: higher payments, but far less interest over the life of the loan.
A lower rate: even half a percentage point adds up to thousands over a long loan.
Extra payments: anything you pay on top reduces the balance that interest is charged on.

Saving up instead? The compound interest calculator shows how interest works in your favour.

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Frequently asked questions

How is the monthly payment calculated?

For a fixed-rate loan with equal payments (an annuity loan), payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the monthly interest rate (annual rate ÷ 12) and n the number of monthly payments.

Why do I pay so much interest at the start?

Interest is charged on the balance you still owe. At the start the balance is highest, so most of each payment goes to interest. As the balance shrinks, more of the same payment goes towards paying off the loan itself.

Does this include fees and insurance?

No. It shows the payment for the loan itself. Real loans can add arrangement fees, account fees, insurance and taxes, which is why lenders quote an annual percentage rate (APR) that includes them. Use the APR here for a closer estimate.

How much do I save by paying the loan off faster?

Try a shorter term: the monthly payment goes up, but the total interest usually drops a lot. For example, a 200,000 loan at 5% costs about 186,500 in interest over 30 years but about 84,700 over 15 years.

Is this financial advice?

No. The calculator gives estimates for guidance. Your lender's offer depends on your situation, fees and terms, so check the exact figures with them or with an independent adviser.