سهلSahel

Loan & Instalment Calculator

The instalment, the schedule, and what a flat rate really costs

calendar_today Last updated: August 22, 2026

The schedule is built from the rounded instalment, and the last one clears whatever is left — the way a lender's own table does. An estimate: administrative fees and insurance are not included. Calculated in your browser.

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Sahel's finance calculator works out the monthly instalment, the total profit, the total repaid and a month-by-month schedule, on either a reducing balance or a flat rate — and tells you what a flat quote really costs on a reducing basis, because a "5% flat" offer costs about 9%, which is the figure offers should be compared on.

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How does this tool work?

1

Enter amount and term

The amount financed, the annual rate and the number of years.

2

Choose the rate basis

Reducing or flat — the difference is close to double.

3

Read the instalment

The monthly payment, the total profit, and the full schedule.

Frequently asked questions

What is the difference between a flat and a reducing rate? expand_more
On a reducing balance, profit is charged on what is still owed, so it falls month by month. On a flat rate, it is charged on the original amount for every year of the term, whether you have repaid half of it or none. The two are therefore not directly comparable, and a flat rate costs roughly double the number it advertises.
What is a 5% flat rate in reducing-balance terms? expand_more
Roughly 9% on a five-year term. The tool works this out by solving the instalment formula backwards and states it plainly, so a flat-rate offer and a reducing-balance one can be judged on the same basis.
How is the monthly instalment calculated? expand_more
By the annuity formula: the amount times the monthly rate, divided by one minus (one plus the monthly rate) raised to minus the number of months. When the rate is zero — an ordinary interest-free instalment plan — the instalment is simply the amount divided by the number of months.
Why is the last instalment different from the rest? expand_more
Because the instalment is rounded to the halala and those fractions accumulate over dozens of months. The final instalment absorbs the difference and clears exactly what is left, which is what a lender's own schedule does; otherwise a small balance would survive the last payment.
Does this include fees and insurance? expand_more
No. It covers the amount and its profit only. Administrative fees, finance insurance and early-settlement charges sit on top and differ between lenders, so ask about them before signing.

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