Loan repayment calculator
Monthly payments and total interest for equal-payment, equal-principal and interest-only loans, side by side.
The same sum at the same rate costs very different amounts depending on how it is repaid. All three methods are worked out at once and shown together, with a year-by-year table of how the balance falls. Add a grace period and the deferred principal is carried through the rest of the schedule.
The loan
What you enter is saved in this browser, so it is still here next time
Use the annual rate written in your loan agreement
Interest-only months, counted within the term above
The same amount every month. Easy to plan around, but interest is front-loaded and the total is the highest of the amortising methods.
How it is repaid
First month
₩1,467,052
Monthly payment
- First month
- ₩1,467,052
- Last month
- ₩1,467,052
Total repaid
₩528.1M
- Total interest
- ₩228,138,548
- Interest against principal
- 76%
The three methods
| Method | First month | Total interest | Total repaid |
|---|---|---|---|
| Equal payment | ₩1,467,052 | ₩228.1M | ₩528.1M |
| Equal principal | ₩1,883,333 | ₩189.5M | ₩489.5M |
| Interest only | ₩1,050,000 | ₩378M | ₩678M |
Year by year
| Year | Paid that year | of which interest | of which principal | Balance left |
|---|---|---|---|---|
| Year 1 | ₩17.6M | ₩12.5M | ₩5.1M | ₩294.9M |
| Year 2 | ₩17.6M | ₩12.3M | ₩5.3M | ₩289.6M |
| Year 3 | ₩17.6M | ₩12.1M | ₩5.5M | ₩284M |
| Year 4 | ₩17.6M | ₩11.8M | ₩5.8M | ₩278.2M |
| Year 5 | ₩17.6M | ₩11.6M | ₩6M | ₩272.2M |
| Year 6 | ₩17.6M | ₩11.3M | ₩6.3M | ₩265.9M |
| Year 7 | ₩17.6M | ₩11M | ₩6.6M | ₩259.4M |
| Year 8 | ₩17.6M | ₩10.8M | ₩6.8M | ₩252.5M |
| Year 9 | ₩17.6M | ₩10.5M | ₩7.1M | ₩245.4M |
| Year 10 | ₩17.6M | ₩10.2M | ₩7.4M | ₩237.9M |
| Year 11 | ₩17.6M | ₩9.8M | ₩7.8M | ₩230.2M |
| Year 12 | ₩17.6M | ₩9.5M | ₩8.1M | ₩222.1M |
| Year 13 | ₩17.6M | ₩9.2M | ₩8.4M | ₩213.6M |
| Year 14 | ₩17.6M | ₩8.8M | ₩8.8M | ₩204.8M |
| Year 15 | ₩17.6M | ₩8.4M | ₩9.2M | ₩195.7M |
| Year 16 | ₩17.6M | ₩8M | ₩9.6M | ₩186.1M |
| Year 17 | ₩17.6M | ₩7.6M | ₩10M | ₩176.1M |
| Year 18 | ₩17.6M | ₩7.2M | ₩10.4M | ₩165.7M |
| Year 19 | ₩17.6M | ₩6.8M | ₩10.9M | ₩154.9M |
| Year 20 | ₩17.6M | ₩6.3M | ₩11.3M | ₩143.5M |
| Year 21 | ₩17.6M | ₩5.8M | ₩11.8M | ₩131.7M |
| Year 22 | ₩17.6M | ₩5.3M | ₩12.3M | ₩119.4M |
| Year 23 | ₩17.6M | ₩4.8M | ₩12.8M | ₩106.6M |
| Year 24 | ₩17.6M | ₩4.2M | ₩13.4M | ₩93.2M |
| Year 25 | ₩17.6M | ₩3.6M | ₩14M | ₩79.3M |
| Year 26 | ₩17.6M | ₩3.1M | ₩14.6M | ₩64.7M |
| Year 27 | ₩17.6M | ₩2.4M | ₩15.2M | ₩49.5M |
| Year 28 | ₩17.6M | ₩1.8M | ₩15.8M | ₩33.7M |
| Year 29 | ₩17.6M | ₩1.1M | ₩16.5M | ₩17.2M |
| Year 30 | ₩17.6M | ₩394K | ₩17.2M | ₩0 |
Only principal and interest are calculated. Early repayment fees, stamp duty and mortgage registration costs vary by lender and product and are not included. On a variable rate this assumes today's rate holds to the end — try it one or two points higher to see whether the loan still works.
Make a link with these numbers
Opening the link fills this screen with the same values. Useful for going through it with a partner, or for comparing two sets of conditions.
Common questions
QWhich is better, equal payment or equal principal?
Equal principal costs less interest overall, because the balance the interest is charged on falls faster from the start. The trade-off is that the first payment is the largest. Equal payment keeps every month the same, which is easier to plan around, but front-loads the interest and costs more in total.
QWhy does a grace period increase the total interest?
During the grace period only interest is paid, so the principal does not move. Interest accrues on the full balance for longer, and the same principal then has to be repaid over a shorter remaining term, which raises the monthly payment too. It moves the burden later at a price.
QAre early repayment fees included?
No. They vary by lender and product and usually disappear after three years, so picking one figure would be wrong in most cases. Only principal and interest are calculated here — check the rate in your loan agreement.