▼ Repayments ($/m)

    Total credit cost (K$) ▼

For a given loan amount, this chart is there to help you choose the right duration for your credit (you can drag the green axis with the mouse on the chart). Choosing the right duration is essential as it is a trade-off between bearable monthly repayments and a reasonable total cost. Notice that on one hand, monthly repayments do not decrease linearly in function of the duration, while on the other hand, the total cost continues to increase approximately linearly (a little faster actually, since the yield curve is not flat).
As an example, if you compare a mortgage loan on 15 years and on 20 years, monthly payments only decrease by 15%, whereas your total cost has increased by 52% !!

▼ $/m - Monthly payment structure ▼

Total amount still due (K$) ▼

Loan amortization

first montly payment

Once chosen the term of the loan, this chart shows you the evolution of the principal balance (the total amount still due) as go the monthly payments (this is important in case of an early payoff). Notice that the principal balance do not decrease linearly. Indeed, each monthly payment is made of a portion toward the principal balance (in green) increasing, a portion toward the insurance (in blue) constant, and a portion of interest (in red) decreasing. The sum of those three portions is always equal to your constant monthly payment during the duration of the loan. Find the detailed “amortization schedule” below.

Loan amortization schedule

Monthly payments in function of the rate

Total cost in function of the rate

Monthly payments in function of the amount

Total cost in function of the amount

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