Home Loan Calculator MY
Home Loan Calculator
Calculate your potential monthly repayments and total cost of the home loan in Malaysia.
Not calculated yet.
Loan Amount: ${formatCurrency(amount)}
Interest Rate: ${(rate*100).toFixed(2)}%
Loan Term: ${term} years
`; loanSteps += `Formulas:
Monthly Repayment = Loan Amount × Monthly Rate / (1 – (1 + Monthly Rate)-Number of Payments)
Total Payment = Monthly Repayment × Number of Payments
`; loanSteps += `Results:
Estimated Monthly Repayment: ${formatCurrency(monthlyRepayment)}
Total Payment: ${formatCurrency(totalPayment)}
`; if(document.getElementById(“calculationStepsLoan”).style.display===”block”){ document.getElementById(“calculationStepsLoan”).innerHTML = loanSteps; } } function resetLoan(){ document.querySelectorAll(“#calculator input”).forEach(el=>el.value=””); loanSteps=””; document.getElementById(“calculationStepsLoan”).innerHTML=”
Not calculated yet.
“; } function toggleLoanSteps(){ const s=document.getElementById(“calculationStepsLoan”); const a=document.getElementById(“toggleArrowLoan”); if(s.style.display===”none”||s.style.display===””){ s.style.display=”block”;a.style.transform=”rotate(180deg)”; s.innerHTML=loanSteps||”Not calculated yet.
“; }else{s.style.display=”none”;a.style.transform=”rotate(0deg)”;} } function formatCurrency(n){return currencySymbol+n.toFixed(2)+” “+fixedCurrency;}This home loan calculator helps you estimate your monthly repayments and the total cost of your loan in Malaysia, based on the loan amount, interest rate, and loan term.
Loan Calculation Formula
Monthly Repayment = Loan Amount × Monthly Rate / (1 – (1 + Monthly Rate)-Number of Payments)
Total Payment = Monthly Repayment × Number of Payments
Example Calculation
RM500,000 loan, 4.5% interest, 30 years → RM2,533.43 monthly repayment, Total Payment = RM915,433.15.
Why It Matters
Understanding your monthly repayments can help you make an informed decision when taking out a home loan in Malaysia.
Smart Strategy
Always ensure that the monthly repayment is affordable within your budget before proceeding with any loan agreement.
FAQs
What is the ideal loan term? The ideal term depends on your financial capacity. A shorter term means higher repayments but less interest paid in the long term.
How can I reduce my monthly repayment? You can reduce your monthly repayment by increasing your loan term or reducing the loan amount, though it might result in paying more interest over time.
