About this tool
With an annuity loan – the usual form of personal loans and mortgages – you pay the same amount every month. It consists of interest and repayment: at first the interest share is high; with every payment the remaining debt and thus the interest share decrease, while the repayment share grows.
The loan calculator works out the monthly payment, term, total interest and the full repayment schedule. You can calculate by term (“What is the payment over 25 years?”), by monthly payment (“How long does it take with 1,200 a month?”) or – as is common for German mortgages – by initial repayment rate in percent. Yearly special repayments shorten the term and reduce interest; the calculator shows by how much.
The results are a model calculation with a constant interest rate. For a concrete offer, your bank’s annual percentage rate applies. For savings plans, use the Compound Interest & Savings Calculator calculator.
How it works
- Enter the loan amount and interest rate.
- Choose what to calculate by – term, monthly payment or initial repayment – and enter the value.
- Optionally set a yearly special repayment.
- Read payment, term and total interest, and follow in the schedule how the remaining debt decreases year by year.
Frequently asked questions
What does “initial repayment” mean?
It is the percentage of the loan repaid in the first year. With 200,000, 3.5 % interest and 2 % repayment, the payment is (3.5 % + 2 %) × 200,000 ÷ 12 = 916.67 per month. As the interest share decreases, the repayment share then grows automatically.
What is the difference between the nominal rate and the APR?
The nominal rate is the pure interest rate of the loan. The annual percentage rate (APR) also accounts for monthly payments and certain costs and is therefore slightly higher. Compare offers by their APR.
How much does a special repayment save?
Every extra amount repaid lowers the remaining debt immediately, so no more interest accrues on it. The calculator shows the shorter term and lower interest. Check your contract for how much special repayment is allowed free of charge.
Why does the last payment differ?
The final payment is usually smaller because only the remaining debt plus interest is due. The schedule shows this final amount in the last year.
How do I calculate simple interest on an amount?
For simple percentage and interest calculations, use the Percentage & VAT Calculator.