Loan Repayment Calculator
Enter the loan amount, annual interest rate, and term. Choose payment frequency to see your repayment per period, total paid, total interest, and number of payments.
Repayment formula uses standard amortisation: PMT = P × r / (1 − (1 + r)−n), where r is periodic rate and n is number of payments.
Copyable Excel & Google Sheets Formulas
Assume: A2 = Amount, B2 = Annual rate %, C2 = Term (years). Monthly payments use 12 periods per year.
Monthly repayment using PMT. Example: Amount=25000, Rate=7.5, Years=5 → =PMT(7.5/12, 5*12, -25000).
Total paid = Monthly payment × number of payments.
Total interest = Total paid − Amount.
For weekly or fortnightly, replace /12 with /52 or /26, and *12 with *52 or *26.
Tips
- Interest-only loans aren’t covered — these are principal & interest repayments.
- Changing frequency affects the number of periods and the periodic interest rate.
Coming soon: dedicated Mortgage Calculator and Car Loan Calculator pages.
FAQs
How are monthly payments calculated?
Payments are based on the principal, annual interest rate, and loan term using an amortization formula that spreads interest and principal across the loan term.
What’s the difference between monthly and biweekly payments?
Biweekly or weekly payments can reduce total interest by paying down principal more often, which may shorten the loan term.
Can I add extra payments?
Yes. Add an extra payment amount to estimate interest savings and your new payoff date.