Loan repayment calculator
Compare monthly payments for equal principal and interest · equal principal and interest based on loan principal, input interest rate, and duration.
Input
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Result
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Applies the annual interest rate÷12 to the initial capital at the beginning of the month, and rounds the interest to the nearest won per cycle. It is a scenario of principal and interest excluding fees·guarantee fees·taxes·insurance·variable interest rates·repayment days·early repayment. The last cycle adjusts the balance to be paid off; it is not a financial institution repayment schedule or loan recommendation.
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Calculation·conversion criteria
Based on the entered principal, interest rate, months, and repayment method, this tool shows scenarios for principal and interest repayment at different intervals.
Input example
Loan of 100 million won · 4% per year · 360 months · equal principal and interest → Monthly principal and interest approximately 477,415 won
If 100 million won is calculated at 4% annual interest and equal monthly payments over 360 months, the monthly payment is approximately 477,415 won. The monthly interest is divided by 12 of the annual interest, and the remaining principal applies the interest. The table rounds to whole won units and adjusts the last period to the remaining balance.
How to use
- Use the entered example value or change the repayment method, loan principal (won), annual interest rate (%), duration (months) items.
- Click Verify result and check the following result.
- Result can be copied if needed.
Frequently Asked Questions
How do equal principal and interest differ from equal principal only?
In equal principal, the total principal and interest each month are kept similar. In equal principal only, the principal is divided each month, resulting in a higher initial payment. The interest is calculated based on the remaining principal at the start of each cycle and the entered monthly interest rate.
Does it match the actual monthly payment from the bank?
No. Repayment dates, days calculation, interest changes, fees, guarantees, insurance, and taxes are handled at the unit level, varying per loan agreement. The results are examples that only reflect principal and interest at a fixed input rate.
Does the monthly payment include guarantee or insurance fees?
Not included. Only the principal amount and interest are summed. Actual repayment schedules and total payments can be checked in the financial company’s documentation and repayment tables.
Calculation criteria and reference materials
- Consumer Financial Protection Bureau — Loan repayment and principal·interest distribution
Public explanation of the monthly principal and interest formula based on fixed interest rate, principal, and period, along with possible additional taxes and insurance on total loan payment. The calculator uses a separate estimate with input interest rate ÷ 12 and rounding to the nearest whole unit.
Verification of calculation criteria: · Calculation·verification principles · Report errors