Finance Tools
Loan Calculator - Equal-Installment and Equal-Principal Schedules
Enter the loan principal, annual interest rate, and repayment term to see monthly payments and total interest for equal-installment and equal-principal loans, along with a full amortization schedule.
Monthly payment
Equal installment versus equal principal, what is different
The same loan can carry different monthly payments and total interest depending on the repayment method. Equal-installment repayment keeps the monthly payment (principal plus interest) the same, so interest weighs heavier early on and principal takes over later. Equal-principal repayment fixes the principal portion each month while the interest declines, which means a heavier early burden but lower total interest overall.
This calculator handles both methods, computing the monthly payment, total interest, and total repayment, and it lays out a full schedule showing principal, interest, and balance for each month. Use it to compare loan products or build a repayment plan that fits you.
How to use it
- Enter the loan principal, annual interest rate, and repayment term.
- Pick equal installment or equal principal as the repayment method.
- Press Calculate to see the monthly payment and amortization schedule.
Good times to use it
- Comparing repayment methods for a mortgage
- Understanding the interest structure of personal or auto loans
- Seeing how the interest changes when you lengthen or shorten the term
- Deciding whether an early repayment makes sense
Frequently asked questions
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