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Loan Calculator
See your repayment, total interest and full schedule before you borrow. Works with cedis, naira, shillings, rand, dollars and more.
How to Calculate Your Loan
Enter the Loan
Pick your currency, then type the amount you want to borrow and the yearly interest rate.
Set the Term
Choose how long you will pay it back in years or months, and how often you will pay.
See Every Payment
Your repayment and total interest appear at once, with a schedule showing how each payment is split.
Frequently Asked Questions
How is the repayment worked out?
We use the standard reducing-balance formula banks use: payment = P × r ÷ (1 − (1 + r)^−n), where P is the loan, r is the interest rate per payment and n is the number of payments.
Which interest rate should I enter?
Enter the yearly (annual) rate your lender quotes. If they quote a monthly rate, multiply it by 12. For example, 2% a month is 24% a year.
What is an amortisation schedule?
It is a table of every payment, showing how much goes to interest, how much pays down the loan, and the balance left afterwards. Early payments are mostly interest.
Does it work for a 0% loan?
Yes. With no interest, each payment is simply the loan amount divided by the number of payments.
Does it include fees or insurance?
No. It shows the loan and interest only. Ask your lender about processing fees, insurance or other charges, which raise the true cost.
How do I get the schedule in Excel?
Watch one short ad and download the full schedule as a CSV file, which opens in Excel, Google Sheets and Numbers.