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Loan calculator: monthly payment and cost of credit

Estimate the monthly payment of a mortgage, a car loan or a business loan with constant monthly payments, and see how much the credit costs in total.

EUR

Nominal rate offered by the lender, before insurance and fees.

%

Result

Fill in the fields to see the result.

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Results are provided for information. Check tax rates and legal requirements that apply to you.

How to use it

  1. Enter the amount you borrow.
  2. Enter the annual interest rate offered and the duration in years.
  3. Read the monthly payment, the total interest and the total repaid.

Examples

200,000 at 4 % over 20 years

Monthly payment ≈ 1,211.96; total interest ≈ 90,870 over 240 payments.

15,000 at 6 % over 5 years

Monthly payment ≈ 289.99; total interest ≈ 2,399 over 60 payments.

Frequently asked questions

How is the monthly payment calculated?

With the constant-payment formula: payment = amount × r ÷ (1 − (1 + r)^−n), where r is the annual rate divided by 12 and n the number of months. Each payment covers the interest of the month and repays part of the capital.

Are insurance and fees included?

No. Borrower insurance, arrangement fees and guarantees depend on the lender: ask for the annual percentage rate (APR) of the offer to compare loans fairly.

Why does a longer loan cost more?

The monthly payment is lower, but interest runs for longer: over 25 years instead of 15, the total interest can be well over twice as high.

Is this an offer of credit?

No, it is an estimate. The actual terms depend on your lender, your situation and the products available in your country.

Percentage Calculator

Percent of a number, what percent one number is of another, and percentage increase or decrease.