Loan Repayment Calculator
Work out your monthly payment on a personal loan or consumer credit agreement — and see how paying a little extra each month saves interest.
Your scheduled monthly payment
€193.33
You'll pay €193.33 per month for 5 years. Over the life of the loan you'll pay €1,599.68 in interest on top of the €10,000.00 you borrowed.
Balance and interest over time
Year-by-year breakdown
| Year | Payments | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | €2,319.94 | €551.90 | €1,768.03 | €8,231.97 |
| 2 | €2,319.94 | €442.86 | €1,877.08 | €6,354.89 |
| 3 | €2,319.94 | €327.08 | €1,992.85 | €4,362.03 |
| 4 | €2,319.94 | €204.17 | €2,115.77 | €2,246.27 |
| 5 | €2,319.94 | €73.67 | €2,246.27 | €0.00 |
Formula
A standard amortising loan is calculated as
M = P × r(1+r)n / ((1+r)n − 1),
where P is the loan amount, r is the monthly rate
(annual rate divided by 12), and n is the term in months. When the rate
is zero, monthly payment is simply M = P / n.
Each month, interest is charged on the remaining balance and the rest of the payment
reduces the principal — so early payments are mostly interest, and later payments are
mostly principal.
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Frequently asked questions
What's the difference between APRC and the interest rate I enter here?▾
APRC (Annual Percentage Rate of Charge) is the standardised rate under the EU Consumer Credit Directive — it bundles the interest rate with mandatory fees so consumers can compare offers across lenders and member states. The rate this calculator uses is a flat periodic interest rate applied to the balance each month. For a fee-free loan the two match closely; for a loan with arrangement fees the APRC will be higher. Use the lender's stated APRC as a working figure unless you know the true periodic rate.
Can I make extra payments to pay off the loan sooner?▾
Yes — that's what the 'Extra monthly payment' field models. Under the EU Consumer Credit Directive you have a statutory right to early repayment at any time, but the lender may claim 'fair and objectively justified' compensation — capped at 1% of the amount repaid early when there's more than a year left on the loan, 0.5% otherwise. National implementations vary; check your agreement.
Does this calculator account for fees or insurance?▾
No. Enter just the principal you're borrowing and the headline interest rate. Arrangement fees, payment protection insurance, and other charges should be assessed separately when comparing offers.
Why do EU loan rates vary so much between countries?▾
National central-bank rates, banking-sector competitiveness, regulatory frameworks, and credit-bureau infrastructure all differ across member states. A personal-loan rate that's competitive in Germany may be high in France or low in Bulgaria. This calculator is region-neutral — enter your local advertised rate.
What if I miss a payment?▾
Missed payments trigger fees and damage your credit standing in your country's credit registry. If you're struggling, EU consumer-credit law requires lenders to handle financial difficulty fairly — contact the lender first, then a national debt-advice service. This calculator does not model missed payments.