Understand the full cost of a loan — instalment, total interest and a year-by-year breakdown.
Understand the full cost of a loan — instalment, total interest and a year-by-year breakdown. Everything is worked out in your browser, so your figures never leave your device.
It shows your regular repayment, how much interest you pay over the life of the loan, the total repaid, and a year-by-year breakdown of how the balance falls.
More frequent repayments reduce the outstanding balance sooner, so slightly less interest builds up. The effect is usually small but real.
No. It covers principal and interest only. Application fees, ongoing account fees and insurance are not included.
Yes. Any fixed-rate, fixed-term loan that is repaid in equal instalments works the same way, whether it is a mortgage, car loan or personal loan.