This loan calculator uses the standard amortisation formula to compute your exact monthly payment and generates a full schedule showing how each payment splits between principal and interest. Use it for business loans, mortgages, equipment finance, vehicle finance, or personal loans. Understanding the amortisation schedule helps you plan prepayments to save on interest.
Read the full guideEnter the loan principal, annual interest rate, and loan term in years. The calculator instantly shows your monthly payment, total interest paid over the life of the loan, total repayment amount, and a month-by-month amortisation schedule for the first 12 months.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | 188.71 | 147.05 | 41.67 | 9852.95 |
| 2 | 188.71 | 147.66 | 41.05 | 9705.30 |
| 3 | 188.71 | 148.27 | 40.44 | 9557.02 |
| 4 | 188.71 | 148.89 | 39.82 | 9408.13 |
| 5 | 188.71 | 149.51 | 39.20 | 9258.62 |
| 6 | 188.71 | 150.13 | 38.58 | 9108.48 |
| 7 | 188.71 | 150.76 | 37.95 | 8957.72 |
| 8 | 188.71 | 151.39 | 37.32 | 8806.34 |
| 9 | 188.71 | 152.02 | 36.69 | 8654.32 |
| 10 | 188.71 | 152.65 | 36.06 | 8501.66 |
| 11 | 188.71 | 153.29 | 35.42 | 8348.37 |
| 12 | 188.71 | 153.93 | 34.78 | 8194.45 |
Most people focus only on the monthly payment - but the total interest paid can be 30–60% of the loan principal. Seeing the full amortisation helps you make better borrowing decisions and plan early repayments.
Monthly payment = P × [r(1+r)^n] / [(1+r)^n-1], where P = principal, r = monthly interest rate (annual rate ÷ 12), n = number of payments.
Disclaimer: Accountdesq provides this Loan Calculator for informational and convenience purposes only. Output is not a substitute for professional accounting, legal, or tax advice. No data entered is transmitted to or stored on our servers - all calculations happen locally in your browser. Accountdesq accepts no liability for errors in generated documents. Always consult a qualified accountant or tax professional for compliance matters.
