A zero-interest baseline
- Input or situation
- Principal 12,000; annual interest 0%; term 12 months; no fees or extra payments
- Result
- 1,000 per month; total interest 0
With no interest, the principal is divided evenly across the twelve payments.
Money
Loan Calculator with Extra Payments
Estimate monthly loan payments, total interest and the payoff date. Compare extra payments and export the repayment schedule to review the details.
Runs in your browser — your input is not uploaded to ToolsNow.
%
Optional — see how much faster the loan clears and what that saves.
Currency & fees
Sets the currency, and how numbers you type are read.
Adds an estimated effective APR to the results.
Enter a loan amount, rate and term to see your payment and payoff schedule.
Calculations are estimates. APR/APRC rules vary (US TILA vs EU Consumer Credit Directive) — always check your lender’s own disclosures.
How to use
- Set the country so amounts display in the right currency and number format.
- Enter amount, yearly rate and term. Use the nominal yearly rate — the tool converts it to a monthly rate itself.
- Add an extra monthly payment to see the shortened term and the interest it saves.
- Add upfront fees to get an estimated effective APR for comparing offers fairly.
Questions
How much difference does an extra monthly payment make?
More than most people expect, because every extra euro goes straight against the principal and stops accruing interest for the remaining term. Enter an amount in the extra field and the tool shows both the shortened term and the interest saved against the contractual schedule.
What does the estimated APR include?
It solves for the rate that equates your upfront fees plus the payment stream to the amount you actually received. Add your arrangement or origination fees to see the true annual cost, which is usually higher than the headline interest rate.
Why does my lender quote a different APR?
Disclosure rules differ: US TILA and the EU Consumer Credit Directive include different fees and use different compounding conventions. Treat this figure as a comparison aid, not a regulatory disclosure.
Can I export the schedule?
Yes. Download CSV gives you every period with its payment, principal, interest and remaining balance, ready for a spreadsheet.
Examples and checks
Compare repayment scenarios using the same principal, rate convention and term. The schedule is a model of monthly payments; a lender’s quote can include fees, insurance and payment rules that differ.
Check a fixed-rate example
- Input or situation
- Principal 10,000; nominal annual rate 12%; 12 months; no fees or extras
- Result
- Monthly payment approximately 888.49
The monthly rate is 1%. Interest is charged on the remaining balance, so the interest share falls over the term.
Before you use the result
- Enter the nominal annual interest rate: this tool divides it by twelve for monthly interest. Do not substitute an effective annual rate or an APR that includes fees.
- An extra-payment saving assumes those payments are allowed without a penalty. Check early-repayment conditions with the lender.
- Treat the calculation as an estimate, not a loan offer or personalized financial recommendation.
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Guides for this task
Guide
How compound interest works, with examples See how starting balance, interest rate, time and contributions affect compound growth. Follow the formula and compare different compounding schedules.
Guide
How loan amortisation works: payment, interest and balance Follow a monthly loan payment through interest and principal, with a worked example and the formula for a fixed-rate repayment schedule.
Guide
Extra mortgage payments: how the interest saving works Compare an example mortgage with and without extra principal payments. See the repayment assumptions, interest savings and limits of the calculation.
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