Loan Calculator
Equal payment / equal principal loan repayment
About this tool
Loan Calculator computes your monthly payment and total interest for equal payment (annuity) or equal principal repayment methods. Enter the loan amount, interest rate, and term to see a full repayment schedule. Useful for mortgages, personal loans, and financial planning.
How to use
- Choose a repayment method (equal payment or equal principal).
- Enter the loan amount, annual interest rate, and loan period.
- Monthly payment, total interest, and repayment schedule are displayed instantly.
FAQ
What is the difference between equal payment and equal principal?
Equal payment (annuity) keeps monthly payments constant. Equal principal pays the same amount of principal each month, with decreasing interest — lower total interest but higher initial payments.
How much difference does 0.1% make?
For a 100M KRW, 20-year loan, a 0.1% rate difference can mean over 1M KRW in total interest. Comparing rates matters.
Can it calculate prepayment penalties?
Currently only standard repayment schedules are provided. Prepayment penalties vary by lender, so check with your financial institution.
Results are for reference only. Please verify with official sources