Loan calculator

Calculate a fixed nominal-rate loan payment and interest cost. 1–600 monthly payments; extra fees excluded. Final payment adjusted to the remaining balance.

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Set your data

Loan principal (€)

Fixed annual nominal rate (%) · up to 4 decimals

Monthly payments (1–600)

Result

Enter your data and run the tool. Your result will appear here.

Principal repaid

Explore the monthly schedule and compare the principal repaid with the remaining balance.

The values you enter stay on this page. Reloading or closing it clears them.

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How to use the tool

Fill in these fields: Loan principal (€), Fixed annual nominal rate (%) · up to 4 decimals, Monthly payments (1–600).
Select “Calculate” to obtain the result.
Explore the monthly schedule and compare the principal repaid with the remaining balance.
Use the sliders in the calculator with a mouse, touch or the arrow keys. Use the calculator fields for precise values or values outside the sliders’ ranges.

Method and principles

P is the loan principal, n the number of monthly payments and A the payment. In the formula r is the monthly decimal rate: r = annual nominal percentage rate / 1200. For example, at 3.5% nominal annual interest, r = 0.035 / 12. It is not an effective annual rate.

Formula (r ≠ 0)

A = \frac{P \times r \times {(1 + r)}^{n}}{{(1 + r)}^{n} - 1}

r = 0

A = \frac{P}{n}

Result details

Result details
Parameter	Value
Total repayment	€23,761.48
Total interest	€3,761.48
Actual payments	60

Practical example

Input

Loan principal (€): 20000
Fixed annual nominal rate (%) · up to 4 decimals: 7
Monthly payments (1–600): 60

Result

€396.02

Limits and checks

Limits and checks
Parameter	Value
Monthly payments (1–600)	≥ 1; ≤ 600

Sources and further reading

Banca d’Italia · TAEG