Loan Overpayment Calculator
Calculate loan overpayment and monthly payment. Find out the total cost of borrowing.
Amount you're borrowing
Annual interest rate on loan
For how many months taking loan
Calculation Formula
Annuity payment:
A = K × (r × (1+r)^n) / ((1+r)^n - 1)
Where:
- A = monthly payment
- K = loan amount
- r = monthly rate (annual / 12 / 100)
- n = number of months
Calculation Examples
About Loan Overpayment Calculator
The calculator helps calculate total loan cost including interest overpayment. Find out monthly payment and total payment amount before taking loan.
Use for comparing loan offers, budget planning, loan affordability assessment.
Benefits
Complete Picture
See both monthly payment and total overpayment
Compare Offers
Easily compare different bank terms
Budget Planning
Know monthly payment amount in advance
FAQ
What is loan overpayment?
Overpayment is the difference between total payments and loan amount. Essentially, it's the cost of using borrowed money.
What is annuity payment?
Annuity payment is equal monthly payments including part of principal and interest.
How to calculate overpayment?
Overpayment = (Monthly payment × Number of months) - Loan amount
How to reduce overpayment?
Early repayment, shorter loan term, lower rate, larger down payment.
What is effective rate?
Effective rate includes all fees and payments. It's higher than nominal rate and shows real loan cost.