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Calculate monthly payments, total interest, and amortization schedules for conventional, provident fund, or combination loans to help you plan your mortgage.
Professional mortgage calculation tool, supporting commercial loans, provident fund loans, and combined loans, as well as two repayment methods: equal principal and interest, and equal principal.
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Still worrying about your monthly mortgage expenses? Our Mortgage Calculator uses standard financial formulas to accurately calculate the monthly payment, total interest, and detailed amortization schedule for conventional loans, provident fund loans, or combination loans. The loan principal refers to the total amount you borrow from the bank, the annualized interest rate is the cost of the loan calculated annually by the bank, and the repayment term is measured in months (e.g., 30 years = 360 months).
Q: Is there a difference between the calculator's results and the actual bank repayment?
A: The results are based on standard formulas and may have a slight variance (±1%) from the actual bank repayment due to different bank interest calculation rules and rounding methods.
Q: Which is more cost-effective: fixed monthly payment or fixed principal payment?
A: The fixed principal method results in less total interest (about 15-25% less), but the initial monthly payments are higher. For example, on a 1,000,000 loan for 30 years at 4.9%: the fixed principal method requires a first-month payment of 6,861 with a total interest of 737,000; the fixed monthly payment method requires a steady 5,307 per month with a total interest of 911,000.
Calculation results do not include additional fees such as bank processing fees or insurance premiums. The LPR is updated on the 20th of each month. For combination loans, the conventional and provident fund portions must be entered separately. Early repayment requires recalculation; we recommend using the shorten-term feature to simulate this.
Provident fund loan limits typically do not exceed 1,200,000 (policies vary by region). Once the LPR basis points for a conventional loan are determined, they remain fixed throughout the loan cycle. Typical example: A 2,000,000 combination loan (1,400,000 conventional + 600,000 provident fund) with interest rates of 4.3% and 3.1% respectively, on a 30-year fixed monthly payment plan, will have a monthly payment of approximately 9,623.
