Loan Calculator
Monthly payment, interest and amortization schedule for a personal loan, car loan or other loan.
Calculated in your browser – your inputs are not transmitted and are kept on this device only if you choose
Tap to type · drag sideways to adjust
From your offer. Default 6.83% (APR 7.05%) = bank average for consumer loans July 2026 (Bundesbank)
Or drag the curve below.
More detailsFixed payment · rate fixed for the whole term · no extra repayment
Repayment
Fixed-rate period
Paid at the end of each year.
Drag or tap – enter your target payment
When you change the payment, adjust:
At 6.83% over 5 years you pay €295.82 a month and €2,749 in interest overall.
- 2 y 9 mHalf repaid
- 5 yDebt-free
- 2 y 9 mHalf repaid
- 5 yDebt-free
- Loan amount
- €15,000.00
- Total interest
- + €2,748.94
- Total you pay
- €17,748.94
- Effective annual rate (APR)
- 7.05%
- Principal share of first payment
- 71.1%
What you can do
Shorten the term by one year−€564 interest
The payment rises to €358.01 (instead of €295.82), but you pay less interest.
€100 more per month−€805 interest
You are debt-free 1 year 5 months sooner.
How this was calculated
Each month: interest = remaining balance × rate ÷ 12; the rest of the payment reduces the loan. That is why the principal share grows with every payment.
The effective annual rate is derived from the actual payments (present-value method), without fees or discount.
RZ-26 · headon.pro
How does a personal loan work?
A personal loan – for a car, furniture or a renovation – is repaid in equal monthly installments. Mathematically it is an annuity loan: every payment contains interest and repayment, and the total stays the same as long as the rate is fixed.
While the interest portion is high and the repayment portion low at the start of the term, this ratio reverses over time. With every payment, the remaining debt decreases, which also lowers the interest charged on the remaining amount. The portion of the payment freed up this way automatically flows into repayment.
For buying a home with purchase costs, equity and a fixed-rate period, use the mortgage calculator. Here you can also change the fixed-rate period and repayment type under “More details”.
Features of the personal loan
- Constant payment
- The monthly burden stays the same as long as the rate is fixed
- Planning certainty
- Full cost control through a fixed monthly payment
- Automatic repayment increase
- The repayment share rises continuously while interest falls
- Transparency
- The amortization schedule shows the exact development over the entire term
How the monthly payment is calculated
The monthly annuity is calculated using the following formula:
- Payment = K × (qⁿ × (q-1)) / (qⁿ - 1)
- K
- Loan amount
- q
- 1 + r (monthly interest factor)
- r
- Annual interest rate / 12
- n
- Term in months
This mathematical formula ensures that, with a constant monthly payment, the loan is fully repaid by the end of the term.
Nominal rate vs. APR: the key difference
When comparing loans, the annual percentage rate (APR) is the most important figure. It allows a fair comparison of different loan offers.
The two interest rates compared
- Nominal rate
- The pure interest for providing the loan, excluding additional costs
- APR (effective rate)
- Includes all costs: nominal rate, processing fees, discount points
- Legal requirement
- Lenders in Germany must disclose the APR under the Price Indication Ordinance
- Comparability
- Only the APR enables a genuine comparison of offers
Term, extra repayments and early repayment
Term: payment versus interest
- 1Shorter termHigher monthly payment, but less interest – you borrow the money for less time. Drag the curve in the calculator to see the difference.
- 2Longer termLower payment, but more interest in total. Choose a payment that stays affordable even with unexpected expenses.
- 3Fixed ratePersonal loans are almost always granted at a fixed rate: in July 2026, 97% of the new consumer loan volume had a fixed-rate period of more than one year (Deutsche Bundesbank, MFI interest rate statistics).
- 4Fixed-rate period for mortgagesIf the fixed-rate period ends before the term, the calculator shows the remaining debt and a follow-up payment under “More details”.
Extra and early repayment of a consumer loan (German law)
- 1Allowed at any timeYou may repay a consumer loan early, in full or in part, at any time (Section 500 (2) BGB).
- 2Compensation cappedWith a fixed rate, the lender may charge early-repayment compensation: at most 1% of the amount repaid early, 0.5% if no more than one year of the term remains – and never more than the interest saved (Section 502 (3) BGB).
- 3Every euro counts immediatelyEvery additional euro repaid reduces the interest for the remaining term
- 414-day withdrawalYou can withdraw from a consumer loan agreement; the period is 14 days (Section 495 (1), Section 355 (2) BGB).
Example: €15,000 personal loan over 5 years
Like the calculator when you first open it, the example uses the bank average for consumer loans with a fixed rate of over 1 to 5 years: 7.05% APR in July 2026 (Deutsche Bundesbank). That equals a nominal rate of 6.83% with monthly payments. Your offer may be higher or lower – enter your own rate.
- Loan amount
- €15,000
- Nominal rate
- 6.83% p.a.
- Term
- 5 years (60 months)
- Monthly payment
- €295.82
- Total payment
- €17,748.94
- Of which interest
- €2,748.94
- APR
- 7.05% p.a.
- Monthly payment
- €295.82
- Annual extra repayment
- €1,000
- New term
- 4 years
- Total payment
- €17,177.95
- Interest savings
- €570.99
With an annual extra repayment of €1,000:
Tips for your personal loan
How to compare and plan your loan
- Compare the APR
- Only the APR includes all costs – lenders must state it (Section 16 PAngV)
- Calculate offers side by side
- Pin offer A in the calculator and enter offer B – you see the difference in euros
- Choose the right term
- As short as the payment allows: every year less saves interest
- Use extra repayments
- Unexpected income (bonus, tax refund) reduces interest immediately
- Keep the payment affordable
- Plan a buffer for unexpected expenses before you set the payment
- Know the withdrawal period
- 14 days to withdraw from a consumer loan agreement (Section 495 BGB)
Frequently asked questions about the loan calculator
Everything important about loans, interest and repayment
What does a €15,000 loan over 5 years cost?
At the average bank rate for personal loans (July 2026: 7.05% APR, Deutsche Bundesbank) you pay 60 monthly installments of €295.82 – €17,748.94 in total, of which €2,748.94 is interest. With your own rate, the loan calculator above recalculates instantly.
What is an annuity loan?
With an annuity loan, the monthly payment (annuity) stays the same as long as the rate is fixed. Personal loans and most mortgages are structured this way. At the start, the payment consists mostly of interest; over time the repayment share rises while the interest share falls. This provides planning certainty through a constant monthly burden.
What is the difference between the nominal rate and the APR?
The nominal rate is the pure interest for providing the loan. The APR (annual percentage rate), on the other hand, includes all costs (nominal rate + fees) and is the most important figure when comparing loans. Under the German Price Indication Ordinance, all lenders must disclose the APR to make offers comparable.
What is an extra repayment and is it worth it?
Extra repayments are unscheduled payments in addition to the monthly payment. Under German law you may repay a consumer loan early, in full or in part, at any time (Section 500 (2) BGB); with a fixed rate, the lender may charge at most 1% of the amount repaid early, 0.5% if no more than one year remains (Section 502 (3) BGB). It pays off when the interest saved exceeds this compensation – enter an extra repayment under “More details” and the calculator shows the interest saved.
What does a fixed-interest period mean and which one is right?
The fixed-interest period is the period for which the interest rate is guaranteed. For a personal loan it usually covers the whole term – then choose “Whole term” in the calculator. For long mortgages it often ends earlier; after that, refinancing must be arranged at a rate nobody knows today. For this, the calculator shows the remaining debt and a follow-up payment at an assumed rate.