Enter the amount, the annual rate and the term. You will see your payment, how much you will pay in interest and how your debt goes down month by month.
The preloaded values are an example: replace them with your own figures.
Monthly payment
With these figures, for a loan of $10.000,00 a 3 years you would pay $346,65 a month and in total you would repay $12.479,52, of which $2.479,52 is interest.
Amortization schedule (French method)
Each row shows how much of your payment goes to principal and how much to interest.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $346,65 | $221,65 | $125,00 | $9.778,35 |
| 2 | $346,65 | $224,42 | $122,23 | $9.553,92 |
| 3 | $346,65 | $227,23 | $119,42 | $9.326,69 |
| 4 | $346,65 | $230,07 | $116,58 | $9.096,62 |
| 5 | $346,65 | $232,95 | $113,71 | $8.863,68 |
| 6 | $346,65 | $235,86 | $110,80 | $8.627,82 |
| 7 | $346,65 | $238,81 | $107,85 | $8.389,02 |
| 8 | $346,65 | $241,79 | $104,86 | $8.147,22 |
| 9 | $346,65 | $244,81 | $101,84 | $7.902,41 |
| 10 | $346,65 | $247,87 | $98,78 | $7.654,54 |
| 11 | $346,65 | $250,97 | $95,68 | $7.403,57 |
| 12 | $346,65 | $254,11 | $92,54 | $7.149,46 |
| 13 | $346,65 | $257,29 | $89,37 | $6.892,17 |
| 14 | $346,65 | $260,50 | $86,15 | $6.631,67 |
| 15 | $346,65 | $263,76 | $82,90 | $6.367,92 |
| 16 | $346,65 | $267,05 | $79,60 | $6.100,86 |
| 17 | $346,65 | $270,39 | $76,26 | $5.830,47 |
| 18 | $346,65 | $273,77 | $72,88 | $5.556,70 |
| 19 | $346,65 | $277,19 | $69,46 | $5.279,50 |
| 20 | $346,65 | $280,66 | $65,99 | $4.998,84 |
| 21 | $346,65 | $284,17 | $62,49 | $4.714,67 |
| 22 | $346,65 | $287,72 | $58,93 | $4.426,95 |
| 23 | $346,65 | $291,32 | $55,34 | $4.135,64 |
| 24 | $346,65 | $294,96 | $51,70 | $3.840,68 |
| 25 | $346,65 | $298,64 | $48,01 | $3.542,04 |
| 26 | $346,65 | $302,38 | $44,28 | $3.239,66 |
| 27 | $346,65 | $306,16 | $40,50 | $2.933,50 |
| 28 | $346,65 | $309,98 | $36,67 | $2.623,52 |
| 29 | $346,65 | $313,86 | $32,79 | $2.309,66 |
| 30 | $346,65 | $317,78 | $28,87 | $1.991,87 |
| 31 | $346,65 | $321,75 | $24,90 | $1.670,12 |
| 32 | $346,65 | $325,78 | $20,88 | $1.344,34 |
| 33 | $346,65 | $329,85 | $16,80 | $1.014,49 |
| 34 | $346,65 | $333,97 | $12,68 | $680,52 |
| 35 | $346,65 | $338,15 | $8,51 | $342,37 |
| 36 | $346,65 | $342,37 | $4,28 | $0,00 |
Results are for reference only and are not actual figures. Values depend on the country, the financial institution, taxes and current laws, and must be validated with an authorized financial institution. Banco.guru is an educational guide to what can be achieved; it does not offer products or personalized financial advice.
Tips for using this result
- Compare loans by their total cost (interest + insurance + fees), not just by the payment.
- A longer term lowers the payment but almost always raises total interest.
- Ask whether you can make extra principal payments without a penalty.
- Before signing, check your borrowing capacity.
How is a loan payment calculated?
With the French method, the most common for personal and consumer loans, you pay the same amount every month. At first most of that payment is interest; over time, more and more goes to principal. The formula is: Payment = P × i / (1 − (1 + i)−n), where P is the amount, i the monthly rate (annual rate ÷ 12) and n the number of months.
With the German method you pay off the same amount of principal each month and interest is calculated on the outstanding balance, so the payment starts higher and goes down. In total you usually pay less interest, but you need more payment capacity at the beginning.
What is an amortization schedule?
It is your loan’s payment calendar: for each month it shows the payment, how much goes to principal, how much to interest and the remaining balance. Reading it helps you understand why extra principal payments early on save more interest and how much you owe if you want to pay off early.
Nominal rate, APR and total cost
This calculator uses the nominal annual rate divided by 12. Offers usually also state an effective annual rate or a total cost of credit (depending on the country: CAT, CFT, TCEA), which includes additional charges. To compare offers, use that total cost. More details in our guide on the total cost of credit.
Before taking out a loan
- Check whether the payment fits your budget with room for the unexpected.
- Ask for the official amortization schedule and compare it with this estimate.
- Review mandatory insurance, origination fees and prepayment penalties.
- Make sure the institution is authorized by your country’s regulator.
Frequently asked questions
Which is better, the French or the German method?
The French method gives a fixed payment that is easier to budget; the German method starts with higher payments but usually generates less total interest. It depends on your income flow.
Why is my real payment different from the calculator’s?
Because the institution may add insurance or fees, or use a different day-count or rate convention. Use this estimate as a reference and confirm it with the official schedule.
Is it worth paying off the loan early?
Extra principal payments reduce future interest, but check whether there are prepayment penalties and whether you keep your emergency fund.
What rate should I enter?
The nominal annual rate of the offer you are evaluating. If you only know the effective annual rate, the resulting payment will be approximate.
Keep learning at banco.guru
- Loan and mortgage amortization: what it means for your payment
- How to compare loans: look at the total cost, not just the payment
- What a personal loan is and how it works (no marketing)
- What is the total cost of credit (APR/total cost) in plain language?
- Credit-related insurance: what to ask before accepting
Other loan and mortgage tools
See all tools →Última revisión: · Información referencial; valida tu caso con una institución financiera.