ToolwebHow to use this tool
- Enter principal, fixed annual rate and total months.
- Choose a repayment method and optionally set grace months within the total term.
- Inspect method comparisons and balance history, then download the monthly schedule.
KRW 100 million at 4% over ten years
- Input and settings
- KRW 100,000,000; 4% annually; 120 months; annuity; no grace
- Result
- First payment approximately KRW 1,012,451; final payment settles rounding balance
Monthly principal and interest are rounded to whole KRW and may differ from the contract’s day-count convention.
The repayment method changes interest and payment
Annuity uses a level payment after the grace period; equal-principal divides principal into similar portions. Bullet repayment pays interest until principal falls due at maturity, so the first monthly payment alone does not convey total cost.
The comparison independently calculates all three methods under the same principal, rate, term and grace assumptions. The final balance is settled to zero, with monthly rounding differences reflected in the last principal payment.
Limits of monthly-period amortization
Grace months are included in the total. A 12-month grace period inside a 120-month loan leaves 108 principal-repayment months; grace equal to the entire term is rejected.
The monthly rate is the annual rate divided by 12. Daily accrual, variable rates, early repayments, guarantee charges and stamp duty are not inferred; compare with the lender’s contractual schedule.
Common questions
Are zero-interest loans and grace periods supported?
At 0%, principal is divided across the remaining repayment months. Grace pays interest only, so a zero-rate grace month also has a zero payment.