Loan Repayment Calculator
Calculate your loan repayments, total interest, and see a detailed breakdown of your loan
Loan Details
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How to Use This Calculator
- Enter the total loan amount you want to borrow
- Enter the annual interest rate
- Select the loan term in years
- Choose your preferred payment frequency
- Click calculate to see your repayment details
Loan Tips
• Compare rates from multiple lenders
• Consider making extra payments to save interest
• Shorter terms = higher payments but less interest
• Check for early repayment penalties
Repayment Details
Enter your loan details to calculate repayments
Understanding Loan Repayments
How Loan Repayments Work
Loan repayments are calculated using the principal amount, interest rate, and loan term. Each payment includes both principal and interest components.
Early in the loan term, most of your payment goes toward interest. As the loan progresses, more of each payment goes toward reducing the principal balance.
Factors Affecting Repayments
- • Loan Amount: Higher amounts = higher payments
- • Interest Rate: Higher rates = higher payments
- • Loan Term: Shorter terms = higher payments
- • Payment Frequency: More frequent = smaller payments
- • Loan Type: Fixed vs variable rates