Loan Repayment Calculator

Repaying a loan is a fixed schedule with one lever attached to it. The schedule is set by the amount, the rate and the term. The lever is the amount you actually send each month, which does not have to be the amount on the statement.

This calculator does both. It produces the scheduled repayment and the APR once fees are included, and it recalculates the whole schedule if you add anything on top. The second number is usually the more interesting one, because a modest addition to an ordinary loan repayment removes a surprising amount of interest and a surprising number of months.

Result

Monthly repayment

$555

Scheduled repayment: $555
APR including fees: 13.25%
Total interest: $8,291
Total cost of borrowing: $9,041
Total repaid: $34,041
Payments to clear: 60 months
Interest as a share of total repaid: 24.9%

The APR shown treats the fee as paid out of the loan proceeds, which is the usual disclosure basis.

Add an extra payment amount to see how much interest a larger payment removes.

Yearly payoff summary

Year	Principal paid	Interest paid	Remaining balance
1	$3,891	$2,767	$21,109
2	$4,380	$2,278	$16,729
3	$4,931	$1,728	$11,799
4	$5,550	$1,108	$6,248
5	$6,248	$410	$0

How to use the loan repayment calculator

Enter the amount borrowed, the rate and the term.
Add any arrangement or origination fee so the APR reflects it.
Enter an extra monthly amount if you intend to pay more than the schedule requires.
Compare the payoff months against the original term.

What people use this for

Working out the repayment on a personal, auto or business loan before applying.
Comparing two offers where one has a lower rate and a larger fee.
Testing how much an affordable extra amount shortens the term.
Checking that a quoted repayment matches the terms you were given.

Worked examples

Every figure below is produced by running this calculator against the example inputs, so the numbers always match the tool.

A five-year personal loan with a fee

$25,000 at 11.9% over 5 years with a $750 origination fee.

Monthly repayment: $555
APR including fees: 13.25%
Total interest: $8,291

The same loan with an extra hundred a month

Adding $100 to every repayment.

Monthly repayment: $655
Total interest: $6,573
Payments to clear: 49 months

The fee is part of the rate

An origination fee deducted from the proceeds means you repay interest on money you never received. Expressed as an APR, a fee on a short-term loan can add a substantial amount to the effective rate - the shorter the term, the larger the effect, because the fee is spread across fewer payments.

This is why comparing two offers on the headline rate alone is unreliable whenever the fee structures differ.

Why an extra payment does more than it appears to

An extra amount goes entirely to principal. It removes not only itself from the balance but every future month of interest that balance would have generated. On a loan with a high rate, that compounding effect is what makes small consistent additions so effective.

The effect is strongest early. The same extra amount applied in the final year of a loan saves very little, because there is almost no remaining interest for it to prevent.

Two things worth confirming with the lender

The first is that extra payments are applied to principal immediately rather than held as an advance payment against the next instalment. The two look similar on a statement and behave completely differently.

The second is whether there is a prepayment penalty. They are uncommon on consumer loans and not unknown, and they change the arithmetic of overpaying entirely.

Methodology and assumptions

What this calculator does, and what it deliberately does not do.

Results are estimates. Real quotes depend on credit, income, property, loan programme and lender pricing at the time of application.
Nothing you type is transmitted or stored - the calculation runs entirely inside your browser.

This calculator is provided for informational and educational purposes only. Results are estimates and may not reflect actual rates, fees, taxes, or market conditions.

This website is not a lender, a mortgage broker or a financial adviser. It does not originate loans, does not accept applications and does not forward your details to anyone.

Actual loan terms depend on credit history, income, the property, the loan programme and lender pricing at the time of application. Only a lender can tell you what you qualify for.

Frequently asked questions

Does the extra payment reduce my instalment?

On most loans, no. The instalment stays the same and the term shortens. Some lenders will recalculate the instalment on request after a large payment.

Why is the APR higher than the rate?

Because the APR includes the fee. Without a fee, the two figures are effectively the same.

Can this tell me what rate I would be offered?

No. Pricing depends on credit, income and lender policy. This applies a rate you already have.

Is a longer term ever right?

When the shorter repayment would not be comfortably affordable, yes. The additional interest is the price of a repayment that does not break the budget.

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