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Simple Monthly Loan Calculator

The purpose of this calculator is to help us calculate the monthly payments to repay a loan

Calculator Definitions

The variables used in our online calculator are defined in detail below, including how to interpret the results.

Total Loan Amount (€)

The total amount of money borrowed for this loan, also referred to as the principal on the loan.

Annual Interest Rate (%)

his is the annual interest rate on the loan. This is not the APR, which takes into account other costs associated with the loan.

Term of the Loan (Years)

This is the original term or length of the personal loan, stated in years. The most common terms for personal loans range from 3 to 10 years.

Monthly Payment (€ / Month)

This is the monthly payment necessary to repay the loan over its lifetime.

Total Payments (€)

The total amount paid to the bank or lending institution over the life of the loan.

Total Interest Paid (€)

The total amount of interest charges over the term of the loan. This is the cost of borrowing money from the lending institution.