Loan Balance Calculator
From original loan, rate, term and months elapsed, compute the remaining principal balance still owed.
Input Data
Results
At a glance:Loan balance (remaining principal) is the principal still owed on a mortgage/loan after some repayment. Because equal-installment repayment pays mostly interest early, the balance after years is often larger than expected. Compute the fixed monthly payment from the original terms, then the balance after k months: remaining = P×(1+r)^k − monthly×((1+r)^k − 1)÷r. Used for early payoff, refinancing and knowing the payoff before selling the collateral.
Formula
r = annual ÷ 100 ÷ 12; n = years × 12.
Monthly = P × r × (1+r)^n ÷ ((1+r)^n − 1).
Remaining = P×(1+r)^k − monthly×((1+r)^k − 1)÷r; principal paid = P − remaining.
$$\text{Monthly} = P \times \dfrac{r(1+r)^n}{(1+r)^n - 1}$$$$\text{Remaining} = P(1+r)^k - \text{Monthly} \times \dfrac{(1+r)^k - 1}{r}$$$$\text{Principal Paid} = P - \text{Remaining} \quad (k = \text{months elapsed})$$How to Use
- Enter the original loan amount, annual rate and term.
- Enter the months elapsed since borrowing.
- View the remaining balance and principal repaid.
Original 3,000,000 at 3% over 30 years (monthly ~12,648) — balance and principal paid by year
| Years repaid | Remaining balance | Principal paid | Principal % |
|---|---|---|---|
| 5 | 2,667,191 | 332,809 | 11.1% |
| 10 | 2,280,594 | 719,406 | 24.0% |
| 15 | 1,831,517 | 1,168,483 | 39.0% |
| 20 | 1,309,862 | 1,690,138 | 56.3% |
| 25 | 703,898 | 2,296,102 | 76.5% |
Case Studies
Case 1: Check balance before refinancing
Mr Cheung borrowed 3,000,000 at 3% over 30 years (monthly ~12,648) in 2019. By 2024 (5 years, 60 months) he wants to re-mortgage and needs the owed principal.
Remaining = 3,000,000 × 1.0025^60 − 12,648 × (1.0025^60 − 1)/0.0025 ≈ 2,667,191. Principal paid ≈ 332,809.
After 5 years he still owes ~2.667m, only ~11% cleared — because early payments go mostly to interest. The new loan is based on this balance; actual payoff to be confirmed with the bank.
Case 2: Car loan payoff before selling
Ms Chan has a 10,000 car loan at 5% over 5 years (60 months), monthly ~188.71. After 24 months she wants to sell and needs the payoff.
Remaining = 10,000 × 1.004167^24 − 188.71 × (1.004167^24 − 1)/0.004167 ≈ 6,296.52. Principal paid ≈ 3,703.48.
After 24 months (40% of term) she still owes ~6,297, only ~37% cleared. Sale proceeds must cover this (plus fees) to clear the loan and release the lien.
FAQ
Why is the balance still high after years?
Equal-installment repayment pays mostly interest early (high balance → high interest) and little principal; principal share grows only later. So the balance falls slowly at first — normal.
Is balance the same as the early-payoff amount?
The remaining principal is the basis, but the actual payoff may add fees, penalties or interest to the payoff date. Confirm with the lender.
Can months elapsed be 0?
Yes. 0 means not started; balance equals the original loan. At the full term it approaches zero.
Does balance equal the early-payoff amount exactly?
The remaining principal is the basis, but they may differ due to adjustments: (1) interest to the payoff date (daily/monthly accrual) may differ from this tool's whole-month estimate; (2) early-repayment penalty/fee (mortgages often have a penalty period); (3) cash-rebate clawback on early settlement/refinance; (4) other unpaid charges. So use this balance for planning, but get the formal payoff quote from the lender for the exact amount.
Why still so high after years?
It is the normal 'interest-first, principal-later' structure of equal-installment (amortising) loans. The monthly is fixed but the interest/principal split shifts: early on, balance is high so interest (balance × monthly rate) is high, leaving little for principal; later, as principal falls, interest falls and principal repayment rises. On a 3m, 3%, 30-year mortgage: 5 years clears ~11% of principal, 15 years ~39%, principal drops fast only at the end. So 'high balance after years' is not an error. To speed principal down, add extra monthly payments (all to principal) or choose a shorter term.
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References
Content review: Calculatorism Finance Team. Results are for reference only; please refer to the relevant authorities for the official figures.