Loan Calculator
Enter your loan amount, interest rate, term, and repayment type to calculate monthly payments and total interest. Compare fixed payment, fixed principal, and interest-only methods.
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How Loan Interest Works
Loan interest is calculated on the remaining balance each month. The repayment method determines how quickly you pay down the principal, which directly affects total interest paid.
Fixed Payment (Amortized)
Equal monthly payments throughout the loan term. Early payments are mostly interest; later payments are mostly principal. This is the most common loan type.
Fixed Principal
Equal principal payments each month plus decreasing interest. Total payments start high and decrease over time. This method results in the lowest total interest paid.