Loan calculator
Work out the monthly cost and total interest on your loan.
EUR
%
Per month
€1,228
Total paid€368,452Total interest€168,452
For guidance only. This is an estimate, not financial advice.
Keep track of your loans in Penge
Bring loans and accounts together in one place and see what they actually cost you each month.
How is the monthly loan cost calculated?
The calculator uses an annuity loan, where you pay the same amount every month for the whole repayment period. Early on most goes to interest, later more goes to paying down the loan itself. The rate here is nominal, so fees come on top.
What the figure leaves out
- Fees. Establishment and monthly administration fees are not in the rate, so your effective interest, the number lenders must quote, is higher than the nominal one you typed in.
- Rate changes. A floating rate moves, and on a 25-year loan a one point rise costs far more than it looks like month to month. Try the same loan a point higher.
- Instalment-free periods and extra payments. Both change the total interest a lot, and neither is in this calculation.