Loan Payment Calculator
Compare equal-installment and equal-principal repayment, with a full amortization schedule.
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Repayment method
The payment stays the same every month. Early payments are mostly interest.
Result
Monthly payment
¥6,165.71
Total repaid
¥1,479,770
Total interest
¥479,770
Months
240
Amortization schedule
| Month | Payment | Principal | Interest | Remaining |
|---|---|---|---|---|
| 1 | ¥6,165.71 | ¥2,665.71 | ¥3,500 | ¥997,334 |
| 2 | ¥6,165.71 | ¥2,675.04 | ¥3,490.67 | ¥994,659 |
| 3 | ¥6,165.71 | ¥2,684.4 | ¥3,481.31 | ¥991,975 |
| 4 | ¥6,165.71 | ¥2,693.8 | ¥3,471.91 | ¥989,281 |
| 5 | ¥6,165.71 | ¥2,703.22 | ¥3,462.48 | ¥986,578 |
| 6 | ¥6,165.71 | ¥2,712.68 | ¥3,453.02 | ¥983,865 |
| 7 | ¥6,165.71 | ¥2,722.18 | ¥3,443.53 | ¥981,143 |
| 8 | ¥6,165.71 | ¥2,731.71 | ¥3,434 | ¥978,411 |
| 9 | ¥6,165.71 | ¥2,741.27 | ¥3,424.44 | ¥975,670 |
| 10 | ¥6,165.71 | ¥2,750.86 | ¥3,414.84 | ¥972,919 |
| 11 | ¥6,165.71 | ¥2,760.49 | ¥3,405.22 | ¥970,159 |
| 12 | ¥6,165.71 | ¥2,770.15 | ¥3,395.56 | ¥967,388 |
Good to know
- This is the exact mathematical result. Banks round each monthly payment and adjust the final instalment, so statements differ by a small amount.
- Insurance, arrangement fees, early-repayment penalties and variable-rate changes are not included, and on many loans they exceed the difference being compared here.
- Total interest is a comparison tool, not a decision: a lower total that leaves you with unaffordable early payments is the worse choice.
About this tool
Enter the amount, the annual rate and the term to see the monthly payment, the total interest and the month-by-month breakdown, for both of the repayment structures used in practice. Equal installment keeps the payment flat while the interest share falls over time; equal principal keeps the principal flat so payments start higher and drop each month. Comparing the two total interest figures is usually the fastest way to understand the trade-off.
How to use it
- 1Enter the loan amount, the annual interest rate as a percentage, and the term in years.
- 2Switch between the two repayment methods to compare payments and total interest.
- 3Expand the schedule to see how each month splits between principal and interest.
Frequently asked questions
Why is the total interest in the schedule a little different from my bank statement?
Because banks round the payment to the cent every month and then adjust the final instalment to absorb the accumulated difference. This tool computes the exact mathematical value, so it can be a few units of currency away from the statement. Use it to compare options and understand structure, not to reconcile a contract down to the cent.
Which repayment method costs less?
Equal principal always produces less total interest for the same rate and term, because you are paying the principal back faster so less of it accrues interest. The trade-off is that the first payments are noticeably higher — often thirty to forty per cent more than the equal-installment figure. Whether that is affordable matters more than the total interest saved.
What is not included in these numbers?
Insurance, arrangement and service fees, early-repayment penalties and any rate changes on a variable-rate product. On many loans these add up to more than the difference the calculation is helping you compare, so read the actual terms before deciding on the strength of one total figure.