Attention! Loan and financing interest rates are usually quoted annually, while payment periods are often monthly, as with mortgage financing. Use the period fields below to set the term and rate bases; the calculation converts automatically when they differ.

Amounts

Total loan amount

Additional costs

Term and interest rate

Term in periods

Payment period

Interest rate per period (%)

Interest rate period

Amortization

Amortization method

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How the loan calculator works

This calculator builds the complete repayment schedule of a loan or financing. For every installment it shows the amount to pay, how much of it is interest and how much reduces the debt, plus the outstanding balance after each payment and the total you will pay at the end. Use it to compare PRICE, SAC, SACRE and MEJS/MAJS before signing a contract, to check a schedule offered by a bank, or to see how term and rate change the cost of a car, a home or a personal loan. Financed fees and insurance can be added as additional costs, which become part of the amount that earns interest.

First, the rate is brought to the same basis as the payments. Rates compound, they are not divided: converting annual to monthly uses (1 + annual rate) = (1 + monthly rate)^12, so 12% a year is about 0.9489% a month, not 1%. With PRICE the installment is fixed: PMT = PV × i / (1 − (1 + i)^−n). SAC amortizes a constant PV / n each period, so installments start higher and fall. SACRE keeps the installment fixed for blocks of 12 periods and recalculates it from the remaining balance. MEJS/MAJS uses a fixed installment whose amortized part is discounted with simple interest.

Example: borrowing 1,000 over 12 months at 1% a month. With PRICE every installment is 88.85 and the total paid is 1,066.19. With SAC the first installment is 93.33, falling to 84.17 in the last one, and the total is 1,065.00: less interest overall, but a heavier start. Results are estimates based on the data you enter. Real contracts may add taxes, fees, insurance or different day-count rules, so check the contract's effective total cost (APR). This tool is informational and is not financial advice.