Start freeLoan payment

Loan payment calculator

Before signing a loan, look at the three numbers that matter: the monthly payment, the total you'll end up paying and how much of that total is interest. Enter the amount, the rate and the term. Free and no sign-up.

Debt

Work out your loan payment

We use the French amortisation system (the usual one for personal loans in Spain): the same payment for the whole term.

€
%
years

Before you sign, look at the payment next to all the others

One payment on its own almost always looks affordable; the problem shows up when you add it to the ones you already have. mPF shows you your total payments against your income before you commit.

See whether that payment really fitsWork out my debt-to-income ratio

Free, no card needed. Opens in your browser — also on iPhone and Android.

01

Look at the total cost, not just the payment

The oldest trick in lending is showing you a comfortable payment by stretching the term. The payment drops, yes, but the total interest climbs: the same loan over 8 years instead of 4 can cost you almost double in interest. Before accepting, always compare the 'total to pay' between offers, not the payment.

  • A lower payment over a longer term = almost always more interest
  • Compare offers by the total to pay, not by the payment
  • Try the same amount with two terms in the calculator and compare
02

Nominal rate and APR: what to look for in the small print

The nominal rate is the pure interest on the loan (the one this calculator uses for the payment); the APR adds fees and costs, and it's the number that lets you compare offers honestly. If an offer boasts a low nominal rate but its APR shoots up, there are fees hidden in there: arrangement, study, tied insurance.

  • Nominal rate: pure interest — it sets your payment
  • APR: interest + fees — it's what compares offers
  • An APR well above the nominal rate = fees or tied products
03

Can you afford it? Ask your ratio

An affordable payment isn't the one that 'more or less' works: it's the one that keeps all your debt payments below 30-35% of your take-home income. Before signing, add this new payment to the ones you already have and work out your debt-to-income ratio. If the loan pushes you above 40%, the prudent answer is not to sign it or to reduce the amount.

  • Add the new payment to your current ones before deciding
  • Check the result with the debt-to-income ratio calculator
  • Above a 40% ratio: rethink the amount or the timing
04

Your debts, watched on one screen

mPF connects your accounts and shows all your debts together: payments, how they're moving and how much is left, with your ratio always in view.

  • All your debts and payments on one screen
  • Your debt-to-income ratio, kept up to date
  • Alerts when a payment approaches the limit

Frequently asked questions

How is a loan payment worked out?

With the French system, the usual one in Spain: a constant payment combining interest and capital repayment. At the start you pay more interest and less capital; over time the proportion reverses. The formula uses the amount, the monthly rate and the number of payments — exactly what this calculator does.

Can I use this calculator for a mortgage?

The maths is the same, but for mortgages we have a specific tool with the amounts and terms typical of housing: the mPF mortgage calculator. For personal, car or home improvement loans, this is the one.

What happens if I overpay early?

Paying capital ahead of schedule cuts the total interest, because interest is charged on what's outstanding. You can choose between reducing the payment or reducing the term: reducing the term saves more interest. Check your contract's early repayment fee first, which is capped by law on personal loans in Spain.

Is a loan better than financing on a card?

Almost always the personal loan: revolving cards carry far higher APRs and their minimum-payment system stretches the debt over years. If you already have an active revolving card, replacing it with a cheaper loan is usually one of the first moves to get out of debt — we explain it in the guide to getting out of debt.

Would you rather start gently?

We'll send you the Financial Order Kit as a PDF: the templates and the checklist to get your accounts in order at your own pace. Free, and without signing up for anything.

We'll send the kit and, very occasionally, something useful from mPF. Unsubscribe in one click whenever you like. No spam — it's not our style.

Do you have a website or a blog?Embed this calculator for free

Copy and paste this code into your page. It's free forever; all we ask is that you keep the attribution link to mPF.

It updates itself: when we improve the calculator, your site gets it.