Loan Repayment Calculator
Compare equal payment and equal principal repayment methods with monthly payments, total interest, and amortization schedule.
Loan Conditions
Enter the loan amount, annual interest rate, and loan term.
%
Total Loan Term:36 months(3 years)
Recommended Method
Save more on total interest.
₩186,896
Interest Savings
Equal Payment
Fixed monthly payment amount
First Month Payment
₩2,997,090
Total Payment₩107,895,230
Total Interest₩7,895,230
Interest Ratio7.32%
Equal Principal
Fixed principal payment monthly
Recommended
First Month Payment
₩3,194,444
Decreases monthly
Total Payment₩107,708,333
Total Interest₩7,708,333
Interest Ratio7.16%
Total Interest Comparison
Equal Payment₩7,895,230
Equal Principal
Recommended
₩7,708,333Savings₩186,896
What is Equal Payment?
A method where you pay the same amount each month. Initially, interest makes up most of the payment, but over time principal repayment increases while interest decreases. Fixed monthly payments make it easier to manage.
What is Equal Principal?
A method where you pay a fixed amount of principal each month plus interest on the remaining balance. Initial payments are higher but decrease over time. Total interest paid is lower than equal payment method.
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