Loan Calculator
Calculate loan repayments with amortization schedule
x10K KRW
%
years
Enter loan information
Overview
Enter the loan principal, annual interest rate, and repayment period to calculate monthly payments and total interest for equal principal or equal installment methods. An amortization schedule showing principal and interest for each payment is also available. Note: results are for reference only and may differ from actual financial product terms.
Key Features
- Choose between equal installment and equal principal repayment methods
- Monthly payment and total interest calculation
- Amortization schedule with principal, interest, and balance per period
- Option to set a grace period
- Side-by-side comparison of repayment methods
How to Use
- Enter the loan principal amount.
- Set the annual interest rate (%) and repayment period (months).
- Select the repayment method (equal installment or equal principal).
- Review the monthly payment, total interest, and amortization schedule.
Tips
- Equal installment means the same amount each month (easier to budget). Equal principal pays less total interest.
- Shorter repayment periods always mean less total interest, all else being equal.
- These results are for reference only. Actual loan terms (prepayment penalties, variable rates, etc.) should be confirmed with your financial institution.
FAQ
- What is the difference between equal installment and equal principal?
- Equal installment keeps the total monthly payment (principal + interest) constant. Equal principal repays the same principal each month with decreasing interest, so early payments are higher but total interest is lower.
- Can it calculate variable-rate loans?
- This calculator assumes a fixed rate. For variable-rate loans, the payment changes each time the rate adjusts, so try running multiple scenarios with different rates.
- Can I use the results directly for financial decisions?
- No. This tool is a reference-only estimator. Real loan products involve fees, rate fluctuations, and preferential terms. Always confirm exact terms with your financial institution before making decisions.