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Advanced loan calculator
To calculate loan tenure where payment is made in daily, quarterly or yearly installments, use the present value of annuity calculator. Select "Solve for No. of payments" and enter the loan amount in the present value field.
Loan payoff calculation
The loan term or number of monthly payments can be calculated by solving for N in the mortgage formula shown below:
Where,
P = principal amount borrowed,
c = periodic payment,
r = monthly interest rate, expressed in decimal (annual interest rate in % divided by 100, and divided by 12)
N = loan term in months
For calculating savings on early loan repayment, click on the calculator linked below.