Finance Glossary

Loan Calculator

An online tool that allows borrowers to estimate their monthly repayments, total interest, and total amount repayable based on inputs such as loan amount, interest rate, and loan term. Loan calculators are useful for comparing scenarios and understanding the true cost of borrowing before applying. They typically use the loan's APR to compute results.

Related guides

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Related terms

APR

Annual Percentage Rate — the true annual cost of borrowing, …

Total Amount Repayable

The complete sum you will pay back over the life of a loan, …

Loan Term

The agreed length of time over which a loan must be fully re…

Instalment Loan

A loan repaid in regular, fixed instalments (usually monthly…

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