Discount calculator
The price after a discount, the discount between two prices, and two discounts one after the other.
Money & banking
Money & banking
Loan instalment calculator
The monthly payment, total repayment and total interest on a loan, by the method you choose.
Monthly instalment
0Total repaid
0Total interest
0Interest against principal
This tool runs entirely inside your browser. No file or text is sent to any server.
How to use
- Enter the loan amount and choose the currency. The same amount, with separators added, appears underneath that box, making the digit count easier to check.
- Enter the annual interest rate and the term in months.
- Choose the method; underneath it, a description of that method appears.
- The instalment, total repayment and total interest are worked out immediately, and clicking the copy button copies the instalment amount.
Notes on this tool
The figure your bank quotes may differ slightly from this one. Usually it is one of three things: fees and insurance charged separately, the instalment rounded up, or the bank using the other method. That is why the chosen method is named under the result — before comparing two figures, make sure both are calculating the same thing.
The interest rate written in a loan agreement or an advertisement is almost always an annual figure.
The instalment shown is rounded to the nearest whole unit. Banks usually round up, so the real payment may be a few units higher.
The instalment is written in Latin digits, so that wherever you paste it — a form, a message, a table — it is read correctly.
Frequently asked questions
How much difference does the method actually make?
A great deal. With equal instalments, interest is charged only on the balance still owed, and that balance falls every month; with flat interest, the whole term's interest is fixed on the original amount. Over a long term the second method can produce close to twice the interest. Try both and see which one your agreement matches.
Are fees and insurance included?
No. This works out principal and interest only. Fees, insurance, stamp duty and other charges are handled separately by the lender — sometimes deducted from the amount you receive, sometimes added to the payment.
What if I pay the loan off early?
This tool does not work that out, because the rule for early settlement differs by lender and by agreement, and sometimes carries a penalty. Ask the lender for that figure.
I need the instalment written out in words.
Copy the instalment and paste it into the number to Persian words tool; for writing on a cheque or an undertaking, that is exactly what you need.
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Number to Persian words
Enter a number and it is written out in Persian words — for invoices, cheques and contracts.
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