Loan & Debt Calculators
Calculate mortgage payments, auto loans, and credit card interest instantly.
What this calculator does
Taking on a loan is one of the most significant financial decisions you'll make. This category provides comprehensive mortgage amortization calculators, side-by-side loan comparisons, early payoff estimates, and credit card interest simulations. All our calculations use the banking industry standard for amortized loans, ensuring our results match top bank estimates. By viewing the detailed amortization breakdown, you can see exactly how much of your payment goes toward principal versus interest.
Formula & how it works
Standard amortization formula: M = P × r × (1+r)^n ÷ ((1+r)^n − 1). P is the principal amount, r is the monthly interest rate, and n is the total number of payments.
Worked examples
- HKD 6,000,000 (approx $770K USD) mortgage at 3.5% for 25 years: Monthly payment is roughly HKD 30,038, with total interest around HKD 3,010,000.
- TWD 10,000,000 (approx $320K USD) mortgage at 2.1% for 30 years: Monthly payment is roughly TWD 37,388, with total interest around TWD 3,460,000.
Frequently asked questions
- Is it worth paying off my loan early?
- If there are no prepayment penalties and you don't need the cash for higher-yield investments, paying off early can save you a massive amount of interest, especially in the early years of the loan.
- Why is the interest portion so high at the start?
- With amortized loans, your monthly payment is fixed. Because your starting principal balance is at its highest, the interest calculated on that balance takes up the majority of your early payments.
- What happens if I only make minimum credit card payments?
- If your minimum payment barely covers the monthly interest, your balance won't decrease. You could end up paying several times the original debt amount in interest over many years.