Instalment calculator
Enter the loan amount, annual interest rate and term, then choose the interest method. Ask the lender which method they use.
Not financial advice. Results are estimates for planning only; check real figures with your bank or provider.
Good to know
- With declining balance, interest is charged on the amount still owed after each payment. A flat rate charges interest on the original amount for the full term.
- The equivalent annual rate shows the declining-balance rate that produces the same payments as the flat-rate loan.
- Processing fees, insurance and compulsory savings can increase the real cost. They are not included in this estimate.
Read more: Before borrowing: flat rate versus declining balance।