Annuity Calculator
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Loan · Annuity
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Frequently Asked Questions
An annuity payment is an equal monthly payment throughout the entire loan term. In the beginning, most of the payment covers interest; toward the end, it covers principal.
Annuity payments are convenient for borrowers (fixed amount) and profitable for banks, as interest is charged on a larger outstanding balance in the early years.
The payment type is typically fixed in the loan agreement. To change the scheme, you would need to refinance the loan with another bank.