Question 1

What kind of payment does it calculate?

Accepted Answer

The tool calculates an amortizing (annuity) payment — an equal monthly payment for the entire loan term.

Question 2

Does it account for extra fees?

Accepted Answer

No, the calculation only considers amount, rate, and term — not insurance or bank fees.

Question 3

How is total interest calculated?

Accepted Answer

Total interest is the difference between the sum of all monthly payments and the original loan amount.

Question 4

Can it calculate early repayment?

Accepted Answer

The current version doesn't account for early repayment — it computes the standard, unchanged schedule.

Question 5

Is it suitable for mortgages?

Accepted Answer

Yes, the amortizing payment formula is universal and works for both personal loans and mortgages.

Loan Calculator

How to use it