Skip to content
Dot Technologies
Two people shaking hands over a desk

Free tool · Loans & mortgages

Loan & mortgage repayment calculator

See your monthly repayment, the total interest you'll pay and how your balance falls year by year, in pounds, naira or CFA francs.

Your loan

Currency
£
%
years

Up to 50 years.

Monthly repayment

£1,169.18

300 payments · total £350,754.02
  • Amount borrowed£200,000.00
  • Total interest£150,754.02
Monthly repayment
£1,169.18
Total interest
£150,754.02
Total repaid
£350,754.02
Interest as % of loan
75%

What you pay each year

CapitalInterest

Year-by-year schedule
YearInterestCapitalBalance
1£9,906.35£4,123.81£195,876.19
2£9,695.37£4,334.80£191,541.39
3£9,473.59£4,556.57£186,984.82
4£9,240.47£4,789.70£182,195.12
5£8,995.42£5,034.74£177,160.38
6£8,737.83£5,292.33£171,868.05
7£8,467.06£5,563.10£166,304.95
8£8,182.44£5,847.72£160,457.23
9£7,883.26£6,146.90£154,310.33
10£7,568.78£6,461.38£147,848.95
11£7,238.20£6,791.96£141,056.99
12£6,890.71£7,139.45£133,917.54
13£6,525.44£7,504.72£126,412.82
14£6,141.49£7,888.67£118,524.15
15£5,737.89£8,292.27£110,231.88
16£5,313.64£8,716.52£101,515.36
17£4,867.69£9,162.48£92,352.88
18£4,398.92£9,631.24£82,721.64
19£3,906.16£10,124.00£72,597.64
20£3,388.20£10,641.96£61,955.68
21£2,843.74£11,186.42£50,769.26
22£2,271.42£11,758.74£39,010.51
23£1,669.82£12,360.34£26,650.17
24£1,037.44£12,992.72£13,657.45
25£372.71£13,657.45£0.00

Assumes a fixed rate and equal monthly repayments. Real loans may include fees, variable rates or different repayment structures. Always check the APR and terms with your lender.

How it works

How repayment loans work

Most mortgages, car loans and personal loans are repayment (amortising) loans: you pay the same amount every month, and each payment covers that month's interest plus a slice of the capital.

Interest is calculated monthly on what you still owe, so the early years are interest-heavy and the later years mostly repay capital. The year-by-year chart and schedule show that shift.

Lengthening the term lowers the monthly payment but increases the total interest. Try changing the term to see the trade-off.

Private by design

Every calculation runs in your browser. Nothing you type is sent to us or stored.

FAQ

Common questions

How are monthly loan repayments calculated?

For a repayment loan, each monthly payment is the same. It is calculated as P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r is the monthly interest rate and n is the number of monthly payments.

Why do I pay mostly interest at the start?

Interest is charged on the outstanding balance. Early on the balance is highest, so more of each payment goes on interest. As the balance falls, more of each payment repays the capital.

How can I pay less interest overall?

Borrow less, choose a shorter term, secure a lower rate, or make overpayments if your lender allows them. Even small regular overpayments can cut years off a mortgage.

Is the interest rate the same as the APR?

No. The APR includes fees and charges as well as interest, so it gives a better picture of the total cost. Use the lender's APR to compare offers.

More free tools

You might also find these useful

All tools

Start a project

Need a custom calculator or tool for your business?

We build fast, accurate web tools, from payroll and pricing calculators to quoting engines, that win customers and save your team hours.

Book a discovery callSee our work