The other side of the coin: paying back a loan
Just as compound interest makes your money grow, it's also the engine that drives the cost of a loan. Taking out a loan is like the bank investing in you.
The French System is the most common for mortgage or personal loans. Its key is simple: the installment you pay every month is always the same. What changes is how that money is used, as we show you in the table below.
A key point: Even if you enter an Annual Interest Rate, the simulator calculates a monthly installment. To do this, it internally converts that annual rate to its monthly equivalent (by dividing it by 12), which is how most real-life loans work.
Simulate Your Loan
Enter your loan details to see the full payment plan.
Fixed Monthly Installment
Total Interest Paid
Total Repaid
Detailed Payment Plan
| Installment # | Interest Paid | Principal Paid | Remaining Balance |
|---|
Installment Composition Month by Month
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