Loan repayment calculator
Calculate the repayment, interest and payoff schedule for the fixed-rate loan terms you enter—then see what an extra payment changes.
Monthly
Fixed-rate mathematical schedule only. It excludes variable rates, offsets, redraw, taxes, insurance, ongoing fees and lender-specific daily timing or rounding. It is not an approval or affordability assessment.
| Year | Opening | Paid | Principal | Interest | Closing |
|---|---|---|---|---|---|
| 1 | $250,000 | $18,422.62 | $4,792.23 | $13,630.39 | $245,207.77 |
| 2 | $245,207.77 | $18,422.62 | $5,062.55 | $13,360.07 | $240,145.22 |
| 3 | $240,145.22 | $18,422.62 | $5,348.12 | $13,074.51 | $234,797.1 |
| 4 | $234,797.1 | $18,422.62 | $5,649.8 | $12,772.83 | $229,147.3 |
| 5 | $229,147.3 | $18,422.62 | $5,968.49 | $12,454.14 | $223,178.81 |
| 6 | $223,178.81 | $18,422.62 | $6,305.16 | $12,117.47 | $216,873.66 |
| 7 | $216,873.66 | $18,422.62 | $6,660.82 | $11,761.81 | $210,212.84 |
| 8 | $210,212.84 | $18,422.62 | $7,036.54 | $11,386.08 | $203,176.3 |
| 9 | $203,176.3 | $18,422.62 | $7,433.46 | $10,989.17 | $195,742.84 |
| 10 | $195,742.84 | $18,422.62 | $7,852.76 | $10,569.86 | $187,890.08 |
| 11 | $187,890.08 | $18,422.62 | $8,295.72 | $10,126.9 | $179,594.36 |
| 12 | $179,594.36 | $18,422.62 | $8,763.66 | $9,658.96 | $170,830.69 |
| 13 | $170,830.69 | $18,422.62 | $9,258 | $9,164.62 | $161,572.69 |
| 14 | $161,572.69 | $18,422.62 | $9,780.23 | $8,642.4 | $151,792.46 |
| 15 | $151,792.46 | $18,422.62 | $10,331.91 | $8,090.72 | $141,460.55 |
| 16 | $141,460.55 | $18,422.62 | $10,914.71 | $7,507.91 | $130,545.84 |
| 17 | $130,545.84 | $18,422.62 | $11,530.39 | $6,892.24 | $119,015.46 |
| 18 | $119,015.46 | $18,422.62 | $12,180.79 | $6,241.83 | $106,834.67 |
| 19 | $106,834.67 | $18,422.62 | $12,867.88 | $5,554.74 | $93,966.79 |
| 20 | $93,966.79 | $18,422.62 | $13,593.73 | $4,828.89 | $80,373.05 |
| 21 | $80,373.05 | $18,422.62 | $14,360.53 | $4,062.1 | $66,012.53 |
| 22 | $66,012.53 | $18,422.62 | $15,170.57 | $3,252.05 | $50,841.96 |
| 23 | $50,841.96 | $18,422.62 | $16,026.31 | $2,396.31 | $34,815.65 |
| 24 | $34,815.65 | $18,422.62 | $16,930.32 | $1,492.3 | $17,885.32 |
| 25 | $17,885.32 | $18,422.62 | $17,885.32 | $537.3 | $0 |
Included
- Fixed nominal annual interest rate and principal-and-interest repayments
- Terms entered in months or years
- Monthly, fortnightly or weekly repayment schedules
- Optional extra amount on every repayment
- A separately entered establishment fee
- Total repayments, interest, payoff time and annual amortization summary
Not included
- Variable or stepped rates, interest-only periods and balloon payments
- Offsets, redraw, payment holidays and irregular dated payments
- Taxes, insurance, ongoing fees, penalties and lender-specific rounding
- Approval, borrowing power or a verdict about what you can afford
What this means
An amortizing repayment first covers interest for the period; the remainder reduces principal. Early in the schedule the balance is larger, so more of each payment is interest. As principal falls, that split moves toward principal.
For a positive rate, the regular repayment uses the standard annuity formula. A zero rate uses the exact branch principal ÷ number of periods. The schedule then accrues interest and reduces the balance period by period, including a smaller final payment when required.
An extra repayment is added to each regular payment and applied to principal through the same schedule. The establishment fee is shown separately and added only to the all-in entered cost; it is not silently financed and does not affect interest.
Formula & worked example
periodic rate = annual nominal rate ÷ periods per year regular repayment = principal × r ÷ (1 − (1 + r)^−n) zero-rate repayment = principal ÷ n period interest = opening balance × periodic rate principal paid = payment − period interest closing balance = opening balance − principal paid
300,000 over 30 years at 6%, paid monthly with a 500 establishment fee
- Regular monthly repayment
- 1,798.65
- Total principal and interest repayments
- 647,514.57
- Total interest
- 347,514.57
- Entered establishment fee
- 500.00
The all-in entered cost is 648,014.57. The fee is not included in the financed balance or interest calculation.
How this calculation works
The calculation follows the formulas, definitions and assumptions explained on this page. The references below support the method and any stated boundaries.
Official sources
- Consumer Financial Protection Bureau — how amortization works — Principal, interest and the changing split across a fixed-rate amortizing loan
- Consumer Financial Protection Bureau — auto-loan amortization — Fixed payments, amortization schedules and the term/interest relationship
- MoneySmart — mortgage calculator — Principal-and-interest scope, repayment frequency, fees, extra repayments and model limitations