How to Use Loan Calculator 💡
See how monthly payments change based on repayment methods.
1. Enter Loan Amount, Interest Rate, and Term.
2. Select Repayment Method.
3. Compare Monthly Payment and Total Interest to find the best plan.
Repayment Types
- Equal P & I: Monthly payment (Principal + Interest) stays the same. Good for budgeting.
- Equal Principal: Principal payment is constant, interest decreases. Higher initial payments but lower total interest.
- Bullet: Pay only interest monthly, and principal at the end. Low monthly burden but requires a large sum at maturity.