Personal Loan Calculator

Display currencyFormatting only. This does not change the calculation.

Loan amount

Annual interest rate (%)The nominal annual rate (APR before fees), not the monthly rate.

Loan term (years)

Term - additional monthsAdded to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.

Payment frequency

Extra payment each period Additional principal paid on top of the scheduled payment.

Include the amortisation schedule

Solve forAnything other than the payment treats the payment below as the known quantity and solves the same annuity equation for the missing one.

Payment per period The instalment you can afford or have been quoted. Used only when solving for the rate, the term or the loan amount.

Balloon payment due after (years)Commercial, land and construction loans are commonly written on a long amortisation but fall due earlier, with the remaining balance repaid in one balloon payment. Leave at 0 for a fully amortising loan.

Origination fee or points (%)A percentage of the loan withheld at closing. Enter the figure your lender quotes - fee schedules differ by lender and by programme.

Other fees deducted at closing Guaranty, packaging, survey or documentation fees withheld from the advance rather than paid separately.

Headline figureWhich figure this calculator leads with. Everything else is still computed.

Payment

329.89

Loan Payment Calculator

Total interest

4,793.36

Total of payments

19,793.36

Number of payments

Payoff time

5 years

Rate per period

0.958333 %

Interest per unit borrowed

0.3196

Interest saved by extra payments

Payments saved

Loan amount

15,000.00

Annual interest rate

11.5 %

Months to repay

Fees deducted at closing

0.00

Net amount advanced

15,000.00

APR

11.5001 %

Worked out from Standard annuity-immediate payment formula, PMT = P i / (1 - (1+i)^-n) and 4 other sources.

How this is worked out

3 steps

Rate per period = 11.5% / 12 = 0.958333%
Payment = P i / (1 - (1+i)^-n) = 329.89
Over 60 payments the total paid is 19793.36, of which 4793.36 is interest.

Amortisation scheduletable

period	payment	interest	principal	balance
1	329.89	143.75	186.14	14,813.86
2	329.89	141.97	187.92	14,625.94
3	329.89	140.17	189.72	14,436.22
4	329.89	138.35	191.54	14,244.68
5	329.89	136.51	193.38	14,051.3
6	329.89	134.66	195.23	13,856.07
7	329.89	132.79	197.1	13,658.97
8	329.89	130.9	198.99	13,459.98
9	329.89	128.99	200.9	13,259.08
10	329.89	127.07	202.82	13,056.26
11	329.89	125.12	204.77	12,851.49
12	329.89	123.16	206.73	12,644.76
13	329.89	121.18	208.71	12,436.05
14	329.89	119.18	210.71	12,225.34
15	329.89	117.16	212.73	12,012.61
16	329.89	115.12	214.77	11,797.84
17	329.89	113.06	216.83	11,581.01
18	329.89	110.98	218.91	11,362.1
19	329.89	108.89	221	11,141.1
20	329.89	106.77	223.12	10,917.98
21	329.89	104.63	225.26	10,692.72
22	329.89	102.47	227.42	10,465.3
23	329.89	100.29	229.6	10,235.7
24	329.89	98.09	231.8	10,003.9
25	329.89	95.87	234.02	9,769.88
26	329.89	93.63	236.26	9,533.62
27	329.89	91.36	238.53	9,295.09
28	329.89	89.08	240.81	9,054.28
29	329.89	86.77	243.12	8,811.16
30	329.89	84.44	245.45	8,565.71
31	329.89	82.09	247.8	8,317.91
32	329.89	79.71	250.18	8,067.73
33	329.89	77.32	252.57	7,815.16
34	329.89	74.9	254.99	7,560.17
35	329.89	72.45	257.44	7,302.73
36	329.89	69.98	259.91	7,042.82
37	329.89	67.49	262.4	6,780.42
38	329.89	64.98	264.91	6,515.51
39	329.89	62.44	267.45	6,248.06
40	329.89	59.88	270.01	5,978.05
41	329.89	57.29	272.6	5,705.45
42	329.89	54.68	275.21	5,430.24
43	329.89	52.04	277.85	5,152.39
44	329.89	49.38	280.51	4,871.88
45	329.89	46.69	283.2	4,588.68
46	329.89	43.97	285.92	4,302.76
47	329.89	41.23	288.66	4,014.1
48	329.89	38.47	291.42	3,722.68
49	329.89	35.68	294.21	3,428.47
50	329.89	32.86	297.03	3,131.44
51	329.89	30.01	299.88	2,831.56
52	329.89	27.14	302.75	2,528.81
53	329.89	24.23	305.66	2,223.15
54	329.89	21.31	308.58	1,914.57
55	329.89	18.35	311.54	1,603.03
56	329.89	15.36	314.53	1,288.5
57	329.89	12.35	317.54	970.96
58	329.89	9.31	320.58	650.38
59	329.89	6.23	323.66	326.72
60	329.85	3.13	326.72	0

Yearly summarytable

year	interest	principal	endingBalance
1	1,603.44	2,355.24	12,644.76
2	1,317.82	2,640.86	10,003.9
3	997.6	2,961.08	7,042.82
4	638.54	3,320.14	3,722.68
5	235.96	3,722.68	0

Results are general information, not financial, tax, legal, medical or engineering advice.