Loan and Mortgage Repayment Calculator
Enter the amount, the yearly interest rate your bank quotes you and the number of years. You get the monthly repayment, the total you pay back and the total interest.
What you pay back
Monthly repayment
€555.56
- Payments
- 360
- Total paid back
- €200,000
- Total interest
- €0
Enter the rate your bank quotes. Without it, this shows the amount split over the term with no interest.
How it works
- 1Monthly rate r = yearly rate ÷ 12. Number of payments n = years × 12.
- 2Monthly repayment = amount × r ÷ (1 − (1 + r)^−n). At 0% it is simply amount ÷ n.
- 3Total paid = monthly repayment × n. Total interest = total paid − amount.
- 4This assumes a fixed rate for the whole term and equal monthly payments. Banks may add fees, insurance or rate changes, so ask your bank for its own figures before you decide.
Questions
What interest rate should I use?
Use the rate your bank quotes you in writing. Rates differ by bank, by product, by your situation and over time, so this calculator does not suggest one.
Does this include fees and insurance?
No. Banks often charge arrangement or valuation fees and may require insurance on a home loan. Ask for the total cost and the annual percentage rate (APR) in writing, and add those to your budget.
How can I pay less interest?
A shorter term or a larger deposit usually lowers the total interest, although the monthly payment on a shorter term is higher. Try different terms in the calculator to see the trade-off.
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