Loan Calculator Simulation
Simply enter the loan amount, interest rate, and repayment period to simulate monthly payments and total repayment amount.
Yearly Amortization Table
| Year | Annual Payment | Principal | Interest | Balance |
|---|
How to Use the Loan Calculator
The Loan Calculator Simulation is a free online tool that lets you easily estimate repayment amounts for mortgages, auto loans, and other types of loans. Simply enter the loan amount, annual interest rate, and repayment period to instantly calculate monthly payment, total payment, and total interest. A yearly amortization table is also displayed for repayment planning.
What is Equal Payment (Fixed Monthly)?
Equal payment is a repayment method where the monthly payment (principal + interest) remains constant. Since the payment doesn't change, it's easy to manage your budget. This is the most common method for mortgages. Early in the repayment period, interest makes up a larger portion, and over time, the principal portion increases.
- Monthly Payment = Loan Amount x Monthly Rate x (1 + Monthly Rate)^Total Months / ((1 + Monthly Rate)^Total Months - 1)
- Monthly Rate = Annual Rate / 12
- Total Months = Years x 12
What is Equal Principal Repayment?
Equal principal repayment is a method where a fixed amount of principal is repaid each month, plus interest on the remaining balance. Initial payments are higher but decrease over time as the balance reduces. Compared to equal payment, total repayment is lower, but the initial payment burden is higher.
Mortgage Simulation
Mortgages typically involve large amounts (tens of millions of JPY) and long terms (25-35 years). Interest types include fixed and variable rates. Use this tool to try different rates and terms to find a repayment plan that suits you.
Auto Loan Simulation
Auto loans typically range from 1M to 5M JPY with 3 to 7 year terms. Interest rates vary by lender. Compare different scenarios using this simulator to find the best option.
FAQ
Q. Which is better: equal payment or equal principal repayment?
A. In terms of total repayment, equal principal repayment results in less total interest. However, the initial monthly burden is higher. If you have financial flexibility, equal principal saves more. If you prefer consistent monthly payments, equal payment is more suitable.
Q. Does the calculator support bonus repayments?
A. The current version supports only monthly repayments. To account for bonus payments, subtract the bonus repayment portion from the total loan amount and simulate separately.
Q. Why might the actual repayment differ from the calculation?
A. This tool provides estimates. Actual repayment amounts may differ slightly due to rounding methods, repayment start date, and interest calculation. For variable rate loans, payments change at rate reviews. Please confirm exact amounts with your lender.