Loan Calculator
Calculate your monthly instalment, total repayment, and full amortization schedule based on loan amount, monthly interest rate, and term.
See the Real Cost Before Taking a Loan
Most people focus only on the monthly instalment when evaluating a loan. But the real determining factors are the total repayment amount and the money going to interest. On a 500,000 ₺ mortgage paid over 120 months, total payments can reach 3.5 times the principal. This tool gives you the full picture before you commit.
What Is Loan Calculation and Why Does It Matter?
Loan calculation means finding the monthly instalment and total repayment cost for a given principal, interest rate, and term. Banks usually quote a monthly rate. Viewed on an annual basis the real scale becomes much clearer. For example, a monthly rate of 2.49% equals approximately 29.88% per year.
The amortization table shows how much of each payment goes to principal and how much to interest. In the early months of a loan the majority of each payment is interest; that balance shifts gradually as the term progresses.
How to Use
Required Inputs
- Loan amount (principal; ₺)
- Monthly interest rate (%); ask your bank or divide the annual rate by 12
- Term (in months)
Calculation Formula
The equal-instalment payment (PMT) formula is used: Monthly Instalment = Principal x [r x (1+r)^n] / [(1+r)^n - 1]. Here r is the monthly interest rate and n is the term in months. The tool also calculates the maximum principal or effective interest rate from a given instalment and term.
Example Scenario Table
| Scenario | Monthly Payment | Total Payment | Total Interest |
|---|---|---|---|
| 500,000 ₺ mortgage (2.49% monthly) 120 months | ≈ 14,700 ₺/mo | ≈ 1,764,000 ₺ | ≈ 1,264,000 ₺ |
| 100,000 ₺ personal loan (3.99% monthly) 24 months | ≈ 5,760 ₺/mo | ≈ 138,240 ₺ | ≈ 38,240 ₺ |
| 250,000 ₺ car loan (2.99% monthly) 48 months | ≈ 9,380 ₺/mo | ≈ 450,240 ₺ | ≈ 200,240 ₺ |
| 50,000 ₺ personal loan (4.50% monthly) 12 months | ≈ 5,750 ₺/mo | ≈ 69,000 ₺ | ≈ 19,000 ₺ |
* Values in the table are approximate. KKDF and BSMV taxes are not included.
This tool is for informational purposes only. Consult a qualified financial advisor for definitive figures.
How to Interpret the Results
The monthly instalment measures affordability, but the total interest amount deserves the most attention. Extending the term lowers the monthly burden but increases total interest cost considerably. On long-term loans the interest you pay can sometimes exceed the principal.
Review the amortization table to see the interest-heavy early months. If you are considering early repayment, pay attention to the remaining balance in that month; the bank's early repayment fee is calculated on that balance.
Tips for Accurate Results
- Bank offers usually state the monthly rate. If an annual rate is given, divide by 12; since banks apply compound interest monthly this gives the cleanest result.
- Mortgage loans are exempt from KKDF (15%) and BSMV (5%). For other consumer loans these taxes are added to the rate; confirm your actual rate with the bank.
- File fees, life insurance, and mortgage costs are not included in this calculator. Compare the true total cost using the TFF (Total Financing Cost) on the bank's offer.
- Enter the maximum instalment you can afford to find out the maximum loan amount you can borrow. The tool supports three calculation modes.