A zero-interest baseline
- Input or situation
- Loan amount 12000; yearly interest 0%; term 1 year; no fees or extra payments
- Result
- 1,000 per month; total interest 0
With no interest, the loan is divided evenly across twelve payments.
Money
Loan calculator — monthly payment, interest & payoff
Estimate monthly repayments on a fixed-rate loan and see how an extra payment changes the payoff time and interest. Open or export the monthly schedule to check the breakdown.
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.
Estimates assume a fixed interest rate and monthly payments. The APR estimate may differ from your lender’s figure because fee and calculation rules vary. Check the lender’s repayment schedule, fees and overpayment terms before making a decision.
How to use
- Check Currency & fees. Country sets the currency display and the number format used to read your entries; it does not load a lender’s terms.
- Enter amount, yearly rate and term in years. Use the nominal annual interest rate, not a fee-inclusive APR. The tool divides that rate by twelve for monthly interest.
- Add an extra monthly payment to compare the repayment schedule, assuming the lender allows the overpayment without a charge.
- Account for other costs separately. Total paid excludes upfront fees, and the displayed estimated APR is currently unreliable. Use the lender’s disclosure for a fee-inclusive comparison.
Example: €10,000 at a fixed 12% nominal annual rate over 1 year, with no fees or extra payments, gives a monthly payment of about €888.49. The monthly rate is 1%, charged on the outstanding balance.
Questions
How much difference does an extra monthly payment make?
In this model, an extra payment reduces the remaining principal after that month’s interest is covered. Compare the months to pay off and total interest with and without the extra amount. The estimate assumes overpayments are allowed without penalties and the rate stays fixed.
Can I use the estimated APR to compare loan offers?
Use the lender’s disclosed APR for that comparison. The APR shown here can be incorrect, including when the final payment is smaller than the regular payment. It is not a dependable measure of the full borrowing cost.
What does Total paid include?
It is the sum of the payments in the schedule: principal plus interest. It excludes the upfront-fees field, insurance, taxes and other charges. Entering upfront fees does not add them to the loan balance or to Total paid.
Can I export the schedule?
Yes. Download CSV lists each monthly period’s payment, principal, interest and remaining balance. The last payment may be smaller. The schedule uses period numbers, not calendar payment dates.
Examples and checks
Enter the loan amount, yearly interest rate and term in years. Add an extra monthly payment to compare how much sooner the balance could be repaid.
Check a fixed-rate example
- Input or situation
- Loan amount 10000; nominal yearly rate 12%; term 1 year; no fees or extras
- Result
- Monthly payment approximately 888.49
The monthly rate is 1%. Interest is charged on the remaining balance, so less of each later payment goes towards interest.
Before you use the result
- Use the nominal yearly interest rate, which the tool divides by twelve. An APR that includes fees is not the same input.
- The country choice sets currency and number formatting; it does not apply local lending rules.
- Compare with the lender’s terms, including fees and any charge for early repayment.
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Read more
Guide
Compound interest: how a balance grows when interest stays in the account Compare a lump sum with regular deposits, understand annual and monthly compounding, and check the assumptions behind a savings projection.
Guide
How loan amortisation works: reading the payment and interest split Read an amortisation schedule, check the first two payments, and compare how a loan's rate and term affect monthly payments and total interest.
Guide
What an extra €100 a month actually does to your mortgage See how extra principal payments change a mortgage payoff date and interest total, with a worked example and the lender rules to check first.
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