These utilities are provided by Util Monster (util.monster) - util.monster
Purpose of This Calculator
When taking out a loan, the most important thing is to choose the repayment method that suits you. This calculator helps you make an informed decision by accurately calculating the monthly repayment amount and total interest for both equal installment and equal principal methods.
KRW
%
Months
Equal Installment Result
Total Repayment
0KRW
Total Interest
0KRW
Principal
0KRW
Loan Period
0Years
Monthly Payment (Fixed)
0KRW
KRW
%
Months
Equal Principal Result
Total Repayment
0KRW
Total Interest
0KRW
First Month Payment
0KRW
Last Month Payment
0KRW
Monthly Principal (Fixed)
0KRW
Loan Repayment Method Comparison
Equal Installment:
β’ Pay the same amount (principal + interest) every month
β’ Higher interest proportion initially, increasing principal proportion over time
β’ Easy to plan repayment schedule
Equal Principal:
β’ Pay the same principal amount every month with separately calculated interest
β’ Higher initial payments that gradually decrease
β’ Lower total interest burden than equal installment
Which Method to Choose?
β’ If you have initial capital capacity: Equal Principal (total interest savings)
β’ If you want stable repayment: Equal Installment (fixed repayment amount)