Fixed Rate Loan Calculator

This calculator assumes a fixed rate loan. Please complete all fields to perform the calculation. Please check with your bank before making a decision on the basis of this calculator, since your bank may use a different method of calculating the interest and payment.

Amount To Be Borrowed
$

Annual Interest Rate
%

Payment Term (in months)

  Beginning
Balance
Payment Interest Principal Ending
Balance
1 $10000.00 $ 450.00 $ 62.50 $ 387.50 $ 9612.50
2 $ 9612.50 $ 450.00 $ 60.08 $ 389.92 $ 9222.59
3 $ 9222.59 $ 450.00 $ 57.64 $ 392.35 $ 8830.23
4 $ 8830.23 $ 450.00 $ 55.19 $ 394.81 $ 8435.42
5 $ 8435.42 $ 450.00 $ 52.72 $ 397.27 $ 8038.15
6 $ 8038.15 $ 450.00 $ 50.24 $ 399.76 $ 7638.39
7 $ 7638.39 $ 450.00 $ 47.74 $ 402.26 $ 7236.14
8 $ 7236.14 $ 450.00 $ 45.23 $ 404.77 $ 6831.37
9 $ 6831.37 $ 450.00 $ 42.70 $ 407.30 $ 6424.07
10 $ 6424.07 $ 450.00 $ 40.15 $ 409.85 $ 6014.22
11 $ 6014.22 $ 450.00 $ 37.59 $ 412.41 $ 5601.81
12 $ 5601.81 $ 450.00 $ 35.01 $ 414.98 $ 5186.83
13 $ 5186.83 $ 450.00 $ 32.42 $ 417.58 $ 4769.25
14 $ 4769.25 $ 450.00 $ 29.81 $ 420.19 $ 4349.06
15 $ 4349.06 $ 450.00 $ 27.18 $ 422.81 $ 3926.25
16 $ 3926.25 $ 450.00 $ 24.54 $ 425.46 $ 3500.79
17 $ 3500.79 $ 450.00 $ 21.88 $ 428.12 $ 3072.68
18 $ 3072.68 $ 450.00 $ 19.20 $ 430.79 $ 2641.88
19 $ 2641.88 $ 450.00 $ 16.51 $ 433.48 $ 2208.40
20 $ 2208.40 $ 450.00 $ 13.80 $ 436.19 $ 1772.21
21 $ 1772.21 $ 450.00 $ 11.08 $ 438.92 $ 1333.29
22 $ 1333.29 $ 450.00 $ 8.33 $ 441.66 $ 891.62
23 $ 891.62 $ 450.00 $ 5.57 $ 444.42 $ 447.20
24 $ 447.20 $ 450.00 $ 2.80 $ 447.20 $ 0.00
TOTALS   $10799.90 $ 799.90 $10000.00  
Based on a 365 day year, simple interest loan.
Slight variations may occur due to loan structure or calendar year basis.

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