Loan Calculator — Monthly Payment and Interest
Enter the amount you want to borrow, the annual interest rate and the term to see your monthly payment and what the loan costs in total. Works for personal loans, car loans and any fixed-rate instalment loan.
Loan Calculator
Monthly payments and total interest
How it works
- Payments use the standard amortisation formula on the declining balance.
- A longer term lowers the monthly payment but raises total interest.
- Check for arrangement fees — they are not part of the interest rate.
- Early repayment can save interest, but some lenders charge a penalty for it.
Worked example: €10,000 over 5 years at 6.9%
- 1Monthly rate: 6.9% ÷ 12 = 0.575% = 0.00575.
- 2Payment: 10,000 × 0.00575 ÷ (1 − 1.00575⁻⁶⁰) ≈ 197.54.
- 3Total repaid: 197.54 × 60 ≈ 11,852 — so interest is about 1,852.
€197.54 per month · €1,852 total interest
Monthly payment per €10,000 borrowed
| Term | 4% | 7% | 10% |
|---|---|---|---|
| 3 years | €295 | €309 | €323 |
| 5 years | €184 | €198 | €212 |
| 7 years | €137 | €151 | €166 |
| 10 years | €101 | €116 | €132 |
Principal and interest only, rounded to whole euros.
Frequently asked questions
Does this include fees or insurance?
No. The result covers principal and interest only. Add any arrangement fee or payment-protection premium separately.
How much interest will I pay in total?
Multiply the monthly payment by the number of months and subtract the amount borrowed. The calculator shows this figure directly as total interest.
Is a shorter loan always better?
It costs less interest overall, but the monthly payment is higher. Choose the shortest term whose payment fits comfortably in your monthly budget.
What is APR and how does it differ from the interest rate?
APR (annual percentage rate) bundles the interest rate plus mandatory fees into one yearly figure, making it the fairest way to compare loan offers.
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