Business loan calculator
See the monthly repayment and total interest on a loan, and compare a flat rate with interest charged on what's left.
Interest is charged
Monthly repayment
GHS 4,874.36
GHS 8,492.26 interest in total
Over the whole loan
If the same rate were a flat rate, the interest would be GHS 15,000.00, GHS 6,507.74 more. Ask lenders which way they charge.
Month by month
| Month | Payment | Interest | Still owed |
|---|---|---|---|
| 1 | GHS 4,874.36 | GHS 1,250.00 | GHS 46,375.64 |
| 2 | GHS 4,874.36 | GHS 1,159.39 | GHS 42,660.67 |
| 3 | GHS 4,874.36 | GHS 1,066.52 | GHS 38,852.83 |
| 4 | GHS 4,874.36 | GHS 971.32 | GHS 34,949.79 |
| 5 | GHS 4,874.36 | GHS 873.74 | GHS 30,949.17 |
| 6 | GHS 4,874.36 | GHS 773.73 | GHS 26,848.54 |
| 7 | GHS 4,874.36 | GHS 671.21 | GHS 22,645.39 |
| 8 | GHS 4,874.36 | GHS 566.13 | GHS 18,337.16 |
| 9 | GHS 4,874.36 | GHS 458.43 | GHS 13,921.23 |
| 10 | GHS 4,874.36 | GHS 348.03 | GHS 9,394.90 |
| 11 | GHS 4,874.36 | GHS 234.87 | GHS 4,755.41 |
| 12 | GHS 4,874.30 | GHS 118.89 | GHS 0.00 |
An estimate: lenders may add processing fees, insurance or other charges, so ask for the total cost before you sign.
Common questions
What is the difference between flat rate and reducing balance?
A flat rate charges interest on the full amount for the whole loan, even as you repay it. Reducing balance charges interest only on what you still owe, so the same quoted rate costs less.
Is this the exact amount I'll pay?
It's an estimate. Lenders may add processing fees, insurance or other charges, so ask for the total cost in writing.
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