Loan Calculator
Calculate monthly repayments, total interest and total cost.
Enter the amount, the annual interest rate and the term to see your monthly instalment, the total interest paid and the total cost of borrowing.
Monthly repayment
€489.15
Total interest
€4,349.22
Total repaid
€29,349.22
Number of payments
60
Interest as % of loan
17.4%
Cost per month of term
€72.49
Excludes arrangement fees and insurance, so a lender's APRC will usually be slightly higher.
How the loan calculator works
- 1Enter the loan amount, annual interest rate and term.
- 2The monthly annuity payment is calculated immediately.
- 3Check total repaid and total interest, not just the monthly figure.
- 4Adjust the term to see how much interest a shorter loan saves.
Frequently asked questions about the loan calculator
How is the monthly repayment calculated?+
It uses the standard annuity formula: P × r ÷ (1 − (1 + r)^−n), where P is the principal, r is the monthly interest rate and n is the number of months. Every instalment is the same size.
Does it include fees and insurance?+
No. Arrangement fees, mandatory insurance and account charges are excluded, so a lender's APRC will usually be slightly higher than the rate you enter here.
Can I see how much interest I save by paying more?+
Shorten the term and compare the totals. A shorter term raises the monthly payment but usually reduces total interest substantially.
Is this tool free to use?+
Yes, completely. There is no account, no trial, no watermark and no daily limit. Data Wave Cloud is funded by unobtrusive advertising so the tools stay free permanently.
Related tools
VAT Calculator
Add or remove VAT from any amount at any rate.
CalculatorsSalary Calculator
Convert gross pay to net pay and see hourly, monthly and yearly figures.
CalculatorsPercentage Calculator
Every common percentage calculation in one clean tool.
CalculatorsElectricity Cost Calculator
Estimate the running cost of any appliance per day, month and year.
Calculators