Simple-model Loan Calculator

About

Enter the loan amount, interest rate, and repayment period, and see your monthly payment, total repayment, and the total interest you will pay — all updated as you type. Works for mortgages, auto loans, student loans, and more, with both equal-payment and equal-principal repayment methods. ■ Compare two loans (Premium) Is the lower rate with a longer term from Bank A better than the shorter term from Bank B? Pick two saved loans, and the app tells you in plain words how they differ in first monthly payment, total interest and payoff date, for example "Bank B's total interest is $12,000.00 less than Bank A's." A side-by-side table of amount, rate, term and totals and a chart of both balances over time let you check the difference. ■ Features - Supports both equal payment (principal & interest) and equal principal repayment - Results update as you type. There is no "calculate" button to press - Shows the monthly payment, total repayment, and total interest together (plus the bonus-month payment when bonus repayments are on) - A breakdown bar shows the split between principal and interest at a glance - A full amortization schedule from the first payment to the last, with the principal, interest, and remaining balance for every payment - See the schedule as a chart: the principal and interest you repay each year, and how the balance goes down (Premium) - Export the schedule as a CSV file to open in Numbers or Excel (Premium) - Bonus repayments twice a year, with a choice of months and share, for the bonus payments that are customary in Japan (shown when the currency is Japanese Yen) - Choose how fractions are handled: round down, round to nearest, or round up - Save any set of conditions to your history and load it back anytime, and give it a name such as "Bank A variable" ■ Free features and Premium Calculating payments, the amortization schedule, and saving to your history are free. Comparing two loans, schedule charts, and CSV export are Premium features, unlocked with a one-time purchase (not a subscription). If you got this app before it became free, Premium is included at no extra cost. ■ Currencies Japanese Yen, US Dollar, Euro, and British Pound are supported. The app picks one for you based on your region, and you can change it at any time under Settings on the calculator screen. Amounts are rounded to the smallest unit of each currency — one yen, one cent, and so on. Changing the currency also changes the interest rate the app starts from, so the figure you see first is a realistic one for that region. ■ Requirements and support - iPhone and iPad (iOS 18 or later) - On iPad, your history and the calculator sit side by side, and you can open several windows to view different loans at once - Works alongside other apps such as Safari in Split View - Dark Mode - Dynamic Type and VoiceOver, including Audio Graphs for charts - Available in English and Japanese ■ Input ranges - Loan amount: under 10,000,000 (under 1,000,000,000 for Japanese Yen) - Annual interest rate: under 30% - Repayment period: up to 99 years and 11 months ■ Please note This app calculates estimates. Your actual payments, fees, and other costs depend on your lender and the terms of your agreement. Always confirm the figures with your lender before signing. Everything is calculated on your device and no internet connection is required (except to purchase or restore Premium). Nothing you enter and nothing in your history is sent anywhere (a CSV file leaves your device only when you choose where to share it). There is no account to create and no advertising.