# Loan Calculator Singapore

Loan Calculator Singapore. This is the most Comprehensive Loan Calculator on the Internet. it will generate tables and Line Chart result base on the User Inputs.

S\$ Y %

S\$

• S\$
• Year
• %

## Other Loan  Calculator

1 Car Loan Calculator Singapore Link
2 Debt Repayment Calculator Singapore Link
3 How Much Can I Borrow Calculator Link

Loan Calculator Singapore. Borrowing Money is a big decision, it will impact you financially if it is not being manage properly .

I created this quick loan calculator , to calculate the numbers of repayment per month  based on the user principal borrowed. You can use this to calculate any loans such as mortgage loan, personal loan , etc. This Calculator will give you a rough idea how much interest you have paid for your loan.

## How To Calculate Manually

### Formula for Amortizing Loan Payment

Loan Payment = Amount / Discount Factor

or

P = A / D

P = Periodic Loan Payment ( Normally Monthly)

A = Total Amount of Loan being borrowed.

D ( Discount Factor) = [(1 + i) ^n] – 1} / [i(1 + i)^n]

i =  Annual rate divided by number of periodic Payment

n = Payments Per Year x Number of  Years

## Loan Payment Calculation Example

A = Loan Borrowed  S\$ 300,000

I = 6 % Interest Rate Per Year =( 6 ÷100)÷12 =0.005

n = Borrow 30 Years = 12 Monthly Payment Per Year X 30 =360

D = [(1 + 0.005) ^360] – 1} / [0.005(1 + 0.005)^360]

P = A / D = S\$ 300,000 ÷ ([(1 + 0.005) ^360] – 1} / [0.005(1 + 0.005)^360])

P = S\$1798.65 if you Calculate

## Calculating interest

Calculate Interest Paid For First Month

Interest  Paid for first  Month =  0.005 x  S\$ 300,000 (Amount Loan Borrowed) =S\$ 1500

New Principal Balance Brought Forward to Second Month =  Principal Borrowed -( Monthly Repayment -Interest Repayment)

S\$ 300,000 -( S\$1798.65 -S\$ 1500)

S\$ 299,701.35 ( if your Calculate )

Calculate Interest Paid For Second Month

Interest  Paid  for second  Month =  0.005 x  S\$ 299,701.35 (Amount Loan Borrowed) =S\$ 1498.51

New Principal Balance Brought Forward to Second Month =  Principal Borrowed -( Monthly Repayment -Interest Repayment)

S\$ 299,701.35 -( S\$1798.65 -S\$ 1498.51)

= S\$ 299,401.21 ( if your Calculate )

Calculate Interest Paid For  Third Month  …………….To 12 Months X 30 =360

Repeat this process 360 times, or you can input the Formulae in an Excel Spread Sheet to automate things.

## Calculate Total Interest Paid

((Monthly Payment x Periodic Monthly Payment x Numbers of  Years Paying Back-1)+(Monthly Payment x 11)+Last Payment)) – ( Principal Amount Borrowed)

=( (S\$1798.65  x 12 x 29)+((S\$1798.65 x11)+ S\$1276) – S\$300,000

= S\$ 347185.61 ( If you Calculate)

Check out Saving Calculator in Singapore Here