Loan Calculator
Calculate loan repayments, total interest and generate a complete amortisation schedule for personal, car, mortgage and business loans in multiple currencies.
Loan Summary
Principal
Frequency
Amortisation Schedule
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Continue with These Tools
Finished using Loan Calculator? Here are some related tools that people commonly use next to complete their workflow faster.
Mortgage Calculator
Calculate mortgage repayments, loan-to-value, total interest, mortgage fees, overall borrowing cost and view a complete amortisation schedule.
Car Loan Calculator
Calculate car finance repayments, deposits, trade-in values, balloon payments, arrangement fees, total borrowing cost and view a complete amortisation schedule.
Personal Loan Calculator
Calculate personal loan repayments, total interest, arrangement fees, total borrowing cost and view a complete amortisation schedule.
Borrowing Capacity Calculator
Quickly estimate how much you may be able to borrow based on your household income and your chosen lender income multiple.
Mortgage Affordability Calculator
Estimate how much you could borrow based on your income, financial commitments, deposit and mortgage details while calculating estimated repayments.
Ghana PAYE & SSNIT Calculator
Calculate Ghana PAYE, Employee SSNIT, Employer SSNIT, Net Salary, Total Deductions and Employer Payroll Cost using the latest Ghana tax rules.
How to Calculate Loan Repayments
Enter your loan amount, interest rate and repayment term to calculate your repayments, total interest paid and a complete amortisation schedule. This calculator supports personal, business, vehicle and home loans in multiple currencies.
Overview
The Loan Calculator helps borrowers understand the true cost of borrowing money before taking out a loan. Whether you are applying for a personal loan, financing a vehicle, purchasing equipment, consolidating debt or planning a mortgage, this calculator provides a detailed breakdown of every repayment. It calculates the repayment amount, total interest paid over the life of the loan, total repayment cost and a complete amortisation schedule showing exactly how each payment is divided between principal and interest.
Benefits
How It Works
Enter the total loan amount.
Enter the annual interest rate.
Choose the repayment term.
Select whether the term is measured in months or years.
Choose your repayment frequency.
The calculator applies the standard amortisation formula.
Interest and principal are calculated for every repayment.
The complete repayment schedule is generated instantly.
How to Use This Tool
-
1Choose your preferred currency.
-
2Enter the loan amount.
-
3Enter the annual interest rate.
-
4Enter the loan term.
-
5Select months or years.
-
6Choose the repayment frequency.
-
7Review your repayment summary.
-
8Review the full amortisation schedule.
Helpful Tips
- Compare several lenders before borrowing.
- Shorter loan terms usually reduce the total interest paid.
- Lower interest rates significantly reduce borrowing costs.
- Weekly repayments may reduce interest compared with monthly repayments.
- Always budget for unexpected financial circumstances.
- Check whether your lender charges arrangement fees or early repayment penalties.
- Review the amortisation schedule to understand how your balance reduces over time.
- Consider making additional repayments where permitted by your lender.
Common Uses
Personal loans.
Business loans.
Vehicle finance.
Mortgage planning.
Debt consolidation.
Home improvements.
Education loans.
Equipment finance.
Worked Examples
The following examples demonstrate how this tool can be used in realistic scenarios.
Personal loan
Estimate repayments for a £15,000 personal loan over five years at a fixed annual interest rate.
Vehicle finance
Compare monthly repayments for different interest rates before financing a new vehicle.
Business borrowing
Estimate repayments for equipment or business expansion before applying for finance.
Debt consolidation
Calculate the repayment cost of combining multiple debts into a single loan.
Common Mistakes
Avoid these common mistakes to achieve the most accurate results.
- Ignoring lender arrangement fees.
- Comparing monthly repayments instead of total borrowing cost.
- Choosing a longer loan simply because repayments are lower.
- Ignoring early repayment penalties.
- Using an incorrect interest rate.
- Not accounting for changes to variable interest rates.
- Ignoring insurance or additional lender charges.
- Borrowing more than necessary.
Glossary
Definitions of the most important terms used by this tool.
Principal
The original amount borrowed before interest is added.
Interest
The cost charged by a lender for borrowing money.
Loan Term
The length of time over which the loan is repaid.
Amortisation
The gradual repayment of a loan through regular scheduled payments.
Repayment
A scheduled payment made towards the loan balance.
Interest Rate
The annual percentage charged by the lender on the outstanding balance.
Outstanding Balance
The amount still owed after repayments have been made.
Total Repayment
The combined value of all principal and interest payments over the life of the loan.
Frequently Asked Questions
Does this calculator work for mortgages?
Yes. Standard repayment mortgages use the same amortisation formula as many other loans.
Can I calculate weekly repayments?
Yes. Weekly, fortnightly and monthly repayment schedules are supported.
Does this calculator support different currencies?
Yes. The calculator supports all available currencies within the application.
Does the calculator include lender fees?
No. Only principal and interest repayments are included unless additional fees are entered separately.
Can I compare different loan offers?
Yes. Adjust the interest rate and repayment term to compare different borrowing options.
What is an amortisation schedule?
It is a payment schedule showing how each repayment is divided between principal and interest until the loan is fully repaid.
Can I use this calculator for business loans?
Yes. It is suitable for personal, commercial and business borrowing.
Are these repayment figures guaranteed?
No. Actual repayments may vary depending on lender fees, rounding methods and loan conditions.
Things to Know
- Results are estimates based on the information provided.
- Lender fees and insurance costs are not included.
- Variable interest rates may change future repayments.
- Actual repayment schedules may vary between lenders.
- Always verify figures with your lender before signing a loan agreement.
Disclaimer
This calculator is provided for educational and budgeting purposes only.
It does not constitute financial advice or a loan offer.
SwiftVecto accepts no responsibility for borrowing decisions made solely from these estimated calculations.
Official References
The following official resources were used when developing this tool and are useful for further reading.