Free tool
Loan calculator
Enter an amount, interest rate and term to see the monthly repayment and the total interest over the life of the loan.
A €200,000 loan over 25 years at 4.5%
How amortisation works
On a fixed-rate loan, every monthly payment is the same, but its split changes. Each month, interest is charged on the balance still owed, and the rest of the payment reduces that balance. Early on the balance is large, so most of the payment is interest and little goes to principal. As the balance falls, the interest share shrinks and more of each payment clears the loan. That shift is amortisation, and it is why overpaying early saves far more interest than overpaying late.
Over a long term the interest can approach, or even exceed, the amount borrowed. The longer the term and the higher the rate, the more total interest you pay, even though the monthly payment looks smaller. A shorter term raises the monthly payment but cuts the total cost sharply, which is the trade-off the calculator lets you test.
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Numbers you can trust
Pileform computes every figure with code, never estimates, and keeps the source document attached as proof.