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Home Loan Calculator
Calculate your monthly repayment, total interest and how much you save with extra payments — including a full amortization schedule.
Loan details
Summary
Original vs extra payments
| Metric | Original | With extra | Difference |
|---|
Payment schedule
| No. | Date | Payment | Principal | Interest | Balance |
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How the home loan calculator works
Your monthly repayment is calculated from the loan amount, the monthly interest rate and the total number of months. Early on, most of each payment is interest; over time more goes to principal. Adding an extra monthly amount reduces the balance faster, which cuts both the term and the total interest you pay.
Ways to pay less interest
- Make a small extra monthly payment — it goes entirely to principal and compounds in your favour.
- Choose a shorter term if you can afford the higher instalment; total interest drops sharply.
- Refinance if you can secure a meaningfully lower rate, after accounting for fees.
Frequently asked questions
How is the monthly repayment calculated?
From the loan amount, monthly interest rate and number of months using the standard amortization formula. Each payment covers interest first, then reduces principal.
How do extra payments help?
Extra amounts go straight to principal, lowering interest in every future month, shortening the term and saving total interest.
What rate should I enter?
Use the effective annual rate from your bank. Malaysian housing loans are often around 3.5%–4.5%, but use your own quoted rate.
This is an estimate for general guidance only and is not financial advice. Confirm figures with your bank.
Set the loan amount, not the property price
Enter the amount actually borrowed after the down payment, then the annual rate, term, start date and optional extra monthly repayment. For a fair comparison, keep the borrowed amount and rate unchanged while comparing terms. The start date labels the monthly schedule; it does not introduce daily interest calculations.
Worked monthly-payment example
RM500,000 borrowed for 30 years at a constant 4% nominal annual rate gives a scheduled monthly payment of approximately RM2,387.08 before any extra repayment. The first month’s interest is approximately RM1,666.67, leaving RM720.41 of that regular payment toward principal. Later months allocate more to principal as the balance falls.
Formula and limits
The scheduled payment is P × i × (1+i)^N / ((1+i)^N − 1), where P is principal, i is annual rate / 12 and N is years × 12. Extra repayments are applied to principal in the model. Actual lender rules may differ. Legal fees, stamp duty, insurance, lock-in charges, daily-interest conventions and future rate changes are not included; compare with your lender’s repayment schedule.
Calculation methods and limitationsExample calculations checked against this page’s code on 7 October 2026.
Questions worth working through
Use the result with confidence
Match the loan principal, not the property price
Enter the amount borrowed after any down payment. The model uses a constant nominal annual rate divided by 12, monthly reducing-balance interest and monthly repayments. The property’s purchase price, legal charges, insurance and renovation budget are not automatically part of the loan.
Check a payment before comparing terms
At 0% interest, a 120,000 loan over 10 years costs 1,000 per month: principal ÷ 120 months. With positive interest, part of each payment covers interest and the rest reduces principal. Early payments usually contain more interest because the outstanding balance is larger.
Extra payment is not the same as a bank instruction
The extra-payment scenario models additional principal reduction. Actual banks may use an advance-payment balance, an offset account or impose restrictions. Keep the same principal and rate when comparing terms, then check total interest and payoff date as well as monthly affordability.