Mortgage repayment calculator: monthly instalment and amortisation schedule
A home loan's monthly instalment depends on the amount borrowed, the interest rate and the tenure. Enter all three to see the instalment, the total interest, and how each payment splits between interest and principal until the balance reaches zero. This is arithmetic on your terms, not a bank quotation or a loan approval.
Work out your mortgage repayment
Enter the loan amount, the interest rate and the tenure to see a result.
Instalments per S$100,000
| Rate | 20 years | 25 years | 30 years |
|---|---|---|---|
| 2% | S$505.88 | S$423.85 | S$369.62 |
| 2.5% | S$529.90 | S$448.62 | S$395.12 |
| 3% | S$554.60 | S$474.21 | S$421.60 |
| 3.5% | S$579.96 | S$500.62 | S$449.04 |
| 4% | S$605.98 | S$527.84 | S$477.42 |
| 4.5% | S$632.65 | S$555.83 | S$506.69 |
Interest at the annual rate divided by 12, charged monthly on the balance; rounded to the cent. Multiply by the loan in hundreds of thousands for an estimate.
A worked example
A S$500,000 loan at 3% a year over 25 years has a monthly instalment of S$2,371.06. Across the 300 payments, the total repaid is S$711,316.58, of which S$211,316.58 is interest. In the first year, S$14,813.48 of the payments goes to interest; by the last year almost all of each payment repays principal.
Questions
How is the monthly instalment worked out?
With the standard annuity formula: the instalment that, with interest charged monthly at the annual rate divided by 12, repays the loan exactly over the tenure. Each month the interest is charged on the balance outstanding, and the rest of the payment reduces it.
Why is the last payment slightly different?
Each amount is rounded to the cent. The last payment is whatever clears the balance exactly, so it can differ from the others by a few cents, and the schedule's totals reconcile to the cent.
Can I model an introductory rate?
Yes. Enter an introductory rate and how many months it lasts. When it ends, the instalment is recalculated on the balance then outstanding over the months left. The rate after it is your assumption, and the result marks the figures that depend on it.
Is this a loan offer or advice?
No. It is arithmetic on the figures you enter. A lender decides whether to lend, on what terms and at what rate, and the regulatory limits are checked by the LTV and TDSR calculators.
Arithmetic on the figures you enter: no policy rule is applied. Confirm the terms with your lender, lawyer or the relevant agency before you act. All calculators