Irish money
Loan calculator
Monthly payment, total interest, and what a budget could borrow.
How to use it
- Enter what you want to borrow, the APR, and whether the term is in years or months.
- Or switch to a monthly budget and see the amount that payment would support.
- Read the comparison with a shorter term and a longer one.
What the APR is doing
The monthly rate is (1 + APR) raised to one twelfth, minus 1. The payment is then the annuity that clears the balance over the term. An APR is not a flat interest rate: it includes some fees, so the figure a lender prints on a personal loan or a car finance agreement can sit a little off this one.
These are estimates, not a loan offer and not financial advice. A mortgage is a different contract. Use the mortgage calculator for a home loan, where the rate is the nominal annual rate divided by 12 rather than an APR conversion.
A budget instead of an amount
“What can I borrow” inverts the payment. You name what you can spare each month, and the page returns the principal that payment would clear at this APR and term. Stretching the term raises that principal and, almost always, the interest.
Questions
Is a car loan the same arithmetic as a mortgage?
The shape is the same, an annuity, but the rate is not. A personal or car loan on this page starts from the APR. A mortgage on this site starts from the quoted annual rate divided by 12.
Will the last payment match the others?
The total shown is the monthly payment times the number of months. A lender sometimes adjusts the final instalment by a few cent. Fees inside the APR are another reason a quote can differ.