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Loan Calculator

Calculate the monthly loan payment, maximum loan amount, or duration of your loan. With amortization schedule, interest cost overview, and full calculation steps.

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Inputs

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Calculate paymentWhat is the monthly payment?
€

Amount of the loan taken out.

%

Annual interest rate (see rate type selection).

Loan term in full years.

€

Desired payment per installment interval.

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For illustration only – your own calculation is what counts.

Explanation

How Loan Calculator works

The loan calculator computes the monthly payment, maximum loan amount, or duration of an annuity loan. With an annuity loan, the monthly payment remains constant over the entire term — only the ratio of interest and principal portions shifts.

Total repayment equals payment x number of months. The difference to the original loan amount is the interest cost — the price you pay for financing.

Annuity formulaPayment = K × (r × (1+r)^n) / ((1+r)^n - 1)

K is the loan amount, r the monthly interest rate (annual rate / 12), and n the term in months. The formula yields the constant monthly payment.

Knowledge

Understanding the annuity loan

How an annuity loan works and why interest and principal portions shift over the term.

The annuity loan is the most common loan type for consumers and real estate financing. The monthly payment (annuity) remains constant over the agreed term, which facilitates financial planning.

When choosing the term: A shorter term saves considerable interest costs but requires a higher monthly burden. The loan calculator helps find the optimal balance between affordability and total costs.

  • The payment consists of interest portion (interest on current balance) and principal portion (repayment of loan).
  • At the start: high interest portion, low principal — because the balance is still at maximum.
  • With each payment, the balance decreases, interest falls, and the principal portion grows.
  • At the end of the term, the last payment consists almost entirely of principal.
  • The shorter the term, the less total interest you pay — but the monthly payment is higher.

Practice

Practical examples

For illustration only – your own calculation is what counts.

Consumer loan EUR 10,000

Loan amount
€10,000.00
Interest rate p.a.
5 %
Duration (years)
5
Duration (months)
0
Monthly payment€188.71

A consumer loan of EUR 10,000 is taken at 5% annual interest over 5 years (60 months) as an annuity loan. What is the monthly payment?

Result: The monthly payment is approx. EUR 188.71. Total repayment: EUR 11,322.74, of which EUR 1,322.74 is interest.

Auto financing EUR 25,000

Loan amount
€25,000.00
Interest rate p.a.
3.9 %
Duration (years)
4
Duration (months)
0
Monthly payment€563.36

A car loan of EUR 25,000 at 3.9% annual interest is financed over 4 years. What is the monthly burden?

Result: The monthly payment is EUR 563.36. Total repayment: EUR 27,041.20; interest: EUR 2,041.20.

Maximum loan with EUR 500/month budget

Interest rate p.a.
4 %
Duration (years)
6
Duration (months)
0
Payment
€500.00
Value€31,958.72

With a monthly budget of EUR 500 and 4% interest over 6 years: How much loan can you afford?

Result: A monthly budget of EUR 500 supports a loan amount of EUR 31,958.72.

Short vs. long duration

Loan amount
€15,000.00
Interest rate p.a.
5.5 %
Payment
€400.00
Value42 months

A loan of EUR 15,000 at 5.5% interest with EUR 400 monthly payment. How long is the repayment?

Result: Repayment takes 42 months (3 years 6 months). Total interest: EUR 1,496.72.

Remaining balance after 3 years

Loan amount
€20,000.00
Interest rate p.a.
4 %
Duration (years)
3
Duration (months)
0
Payment
€400.00
Remaining balance€7,272.81

A loan of EUR 20,000 at 4% interest with EUR 400 monthly payment. What is the remaining balance after 3 years?

Result: After 3 years, the remaining balance is EUR 7,272.81 and EUR 12,727.19 has been repaid.

Determine interest rate from payment (EUR 10,000)

Loan amount
€10,000.00
Duration (years)
5
Duration (months)
0
Payment
€200.00
Payment7.42 %

A loan of EUR 10,000 is repaid over 5 years (60 months) with a monthly payment of EUR 200. What interest rate does that imply?

Result: The EUR 200 monthly payment implies an interest rate of approx. 7.42%. Total repayment: EUR 12,000.00, of which EUR 2,000.00 is interest.

Final payment with a fixed monthly instalment (EUR 25,000)

Loan amount
€25,000.00
Interest rate p.a.
4 %
Duration (years)
4
Duration (months)
0
Payment
€400.00
Final payment€8,946.13

A loan of EUR 25,000 at 4% interest is serviced over 4 years with a fixed monthly payment of EUR 400. What is the remaining final payment?

Result: At the end of the term, a final payment of approx. EUR 8,946.13 remains. Total repayment: EUR 27,746.13; interest: EUR 2,746.13.

Notes

Common mistakes

  1. Confusing principal and payment

    The payment (annuity) consists of interest portion plus principal portion. Only the principal portion reduces the balance. Those who equate 'principal' and 'payment' underestimate the actual monthly burden or overestimate the repayment speed.

    Distinguish between payment and principal: The payment is the total monthly amount; the principal portion is only the part that reduces the debt.

  2. Not using prepayment rights

    Many loan agreements allow annual prepayments of 5-10%. Those who do not use this right pay significantly more interest over the full term. Even small prepayments shorten the duration considerably.

    Check prepayment options in the contract and use them regularly to reduce interest costs and shorten duration.

  3. Comparing loan offers only by nominal rate

    The nominal rate excludes ancillary costs. Only the annual percentage rate (per PAngV) makes loan offers comparable. A lower nominal rate can be more expensive through fees than a higher nominal rate without fees.

    Always use the annual percentage rate (per PAngV) for comparisons, as it includes all ancillary costs.

  4. Underestimating remaining balance at end of interest lock-in

    With long terms and low repayment rates, the remaining balance at the end of the interest lock-in can still be very high. Refinancing at possibly higher rates poses a significant financial risk.

    Calculate the remaining balance at end of interest lock-in and verify that refinancing remains affordable even at higher rates.

  5. Looking only at the monthly payment

    A low payment seems attractive, but it means a longer term and therefore significantly higher total interest costs. At 10,000 euros and 5% interest, extending from 3 to 7 years costs over 1,000 euros in additional interest — even though the monthly payment falls.

    Assess the payment and total costs together. A somewhat higher payment saves considerable interest costs with a shorter term.

FAQ

Frequently asked questions

What is an annuity loan?

An annuity loan is a loan with a constant monthly payment (annuity). The payment consists of an interest portion and a principal portion. At the start, the interest portion is high and the principal portion low — with each payment, the interest portion decreases and the principal portion increases.

How is the monthly payment calculated for a loan?

The annuity formula is: Payment = Loan x (r x (1+r)^n) / ((1+r)^n - 1), where r is the monthly interest rate (annual rate / 12) and n is the term in months. At 0% interest, the payment is simply loan amount / number of months.

How does the ratio of interest and principal change over the term?

At the beginning, you mainly pay interest because the remaining balance is still high. With each payment, the balance decreases, so less interest accrues. The freed-up amount flows into principal repayment — debt reduction accelerates over time.

What happens with early repayment (prepayment)?

A prepayment reduces the balance and future interest. An early repayment fee may apply. The caps of 1% of the amount repaid early, or 0.5% when no more than one year remains, apply under Section 502(3) BGB only to general consumer credit agreements, not generally to mortgage consumer credit.

What is the difference between borrowing rate and effective rate?

The borrowing rate (nominal rate) is the pure interest rate the bank charges on the loan. The effective rate (APR) additionally includes all ancillary costs (processing fees, account fees, disbursement rate) and is therefore always higher than or equal to the borrowing rate. For comparing loan offers, the effective rate is decisive.

How can I reduce my loan costs?

Choose a shorter term — fewer interest days, less total interest. Compare multiple offers — small rate differences have a big impact. Arrange prepayment options — reduce balance faster. Contribute a higher equity share — smaller loan needed. Ensure good credit rating — leads to better conditions.

When is the payment too low for the loan?

If the monthly payment is not sufficient to cover at least the accruing interest, the loan will never be paid off — the balance would actually increase. The loan calculator shows an error in this case. The payment must always exceed loan amount x monthly rate.

What is an early repayment fee?

Only for general consumer credit agreements does Section 502(3) BGB cap the fee at 1% of the amount repaid early, or 0.5% when no more than one year remains, and never above the interest otherwise payable for that period. These caps do not generally apply to mortgage consumer credit or every loan type.

How does the term affect total cost?

A longer term lowers the monthly payment but increases total interest. For EUR 10,000 at 5%, the engine returns EUR 789.52 interest over 3 years and EUR 1,872.48 over 7 years.

What is the difference between fixed and variable interest?

A fixed borrowing rate remains unchanged for the agreed period, making payments predictable. A variable rate follows a reference rate such as Euribor and carries the risk of rising payments.

What role does creditworthiness play?

Creditworthiness affects whether a loan is granted and at what conditions. Banks assess income, existing liabilities, employment, and credit-bureau data.

What happens if payments are overdue?

Acceleration under Section 498 BGB requires at least two consecutive installments to be wholly or partly overdue and arrears of at least 10% of the nominal amount for a term up to three years, or 5% for a longer term; mortgage consumer credit instead has a 2.5% threshold. An unsuccessful two-week cure period must also expire after acceleration was threatened.

Limits

Limitations

  • Calculation with borrowing rate (nominal): The calculator uses the borrowing rate. Effective costs from processing fees, credit insurance, or disagio are not included.
  • No prepayments modeled: The calculator assumes constant monthly payments without prepayments. Actual loan progressions with prepayments deviate from the result.
  • No residual debt insurance considered: Residual debt insurance significantly increases effective loan costs but is not modeled in this calculation.
  • No substitute for loan advice: The result is a mathematical model calculation. Individual creditworthiness, collateral, and bank conditions can affect actual terms.

Sources

Sources and references

  • § 488 BGB — Vertragstypische Pflichten beim DarlehensvertragBundesministerium der Justiz

    Legal basis for loan agreements: Obligation to repay and pay interest.

    View sourceRetrieved: 07/28/2026 · Verified on: 07/28/2026 · Primary source
  • §§ 491-505 BGB — VerbraucherdarlehensvertragBundesministerium der Justiz

    Special provisions for consumer protection in credit agreements, including right of withdrawal and information obligations.

    View sourceRetrieved: 07/28/2026 · Verified on: 07/28/2026 · Primary source
  • § 502 BGB — VorfälligkeitsentschädigungBundesministerium der Justiz

    Regulates early repayment fees; the caps of 1% or 0.5% of the amount repaid early under subsection 3 apply only to general consumer credit agreements.

    View sourceRetrieved: 07/28/2026 · Verified on: 07/28/2026 · Primary source
  • Preisangabenverordnung (PAngV) — EffektivzinsangabeBundesministerium der Justiz

    Obligation for banks to disclose the annual percentage rate for loan offers to ensure fair comparability.

    View sourceRetrieved: 07/28/2026 · Verified on: 07/28/2026 · Primary source
  • Verbraucherzentrale — Kredite und DarlehenVerbraucherzentrale Bundesverband

    Independent consumer information on loan types, rights, and pitfalls in taking out loans.

    View sourceRetrieved: 07/28/2026 · Verified on: 07/28/2026

Knowledge