Loan Calculator
Compare equal installment, equal principal and interest-only loan repayments.
The Loan Calculator compares three common repayment methods: equal installment, equal principal and interest only. Enter the amount, annual rate and term to see the monthly payment, total interest and a full amortization schedule.
Repayment method
Result
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How to use
- Enter the loan amount, annual interest rate and term.
- Choose months or years and pick a repayment method.
- Review the payment summary and the amortization schedule.
Frequently asked questions
What is the difference between equal installment and equal principal?
Equal installment keeps the payment stable, while equal principal pays more at the start and less over time.
How is the daily rate calculated?
The annual rate is divided by 360, the common convention used by many Chinese loan calculators.
What happens with a zero interest rate?
The monthly payment becomes the principal divided by the number of months.
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