Estimate monthly loan payments and total interest.
If you borrow ₦500,000 at a fixed annual rate of 12% and repay it over 24 months, the calculator estimates the monthly principal-and-interest payment and the total interest across the term. Compare the total repaid—not only the monthly payment—when reviewing different terms.
Check whether the lender quotes a fixed or variable rate and ask about origination fees, insurance, late fees and early-repayment rules.
The estimate uses a standard amortizing-loan formula. It does not include lender-specific fees, insurance, taxes, penalties or changes in rates unless you enter them indirectly.
Does this include fees?
No. The estimate focuses on principal and interest and does not automatically include lender fees, insurance or taxes.
Check the inputs and assumptions before relying on the result. FreeTools Hub is designed for general calculations and education; it does not replace professional financial, tax, legal or medical advice.