Finance
Loan Repayment Calculator
Estimate the first payment, total interest, and total repayment for equal-payment, equal-principal, or balloon repayment.
How to use
Enter the principal, annual interest rate, and term, then choose a repayment method. You can enter the term in years or months.
Formula
Equal payment = P × r ÷ (1 − (1+r)^−n) · Equal principal = P ÷ n plus interest on the remaining balance · Balloon = monthly interest, with principal due at maturity
Example
What if you repay ₩12,000,000 over 12 months at 0%?
With equal monthly payments, you repay about ₩1,000,000 each month and pay no interest.
Frequently asked questions
- How do equal-payment and equal-principal repayment differ?
- Equal-payment keeps installments similar. Equal-principal repays the same principal each month, so early installments are larger.
- What is balloon repayment?
- Interest is paid during the term and the principal is repaid at maturity.