finance

1 Million Loan 20-Year Mortgage Calculator

Monthly payment on a 1,000,000 loan over 20 years: about 5,774/month at 3.45%, total interest ≈ 386,000 — roughly 220,000 less interest than a 30-year term.

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Equal payment: M=P×r×(1+r)ⁿ÷[(1+r)ⁿ-1] | Equal principal: k-th month=P/n+(P-P×(k-1)/n)×r | LPR (2025): 1Y 3.10% / 5Y+ 3.45% | Housing fund: 2.85%

Loan Type

Commercial loan amount (CNY)

Commercial annual rate (%)

Loan term (years)

Repayment Method

First payment month

Holding costs (optional)

Property fee /mo

Heating /yr

Insurance /yr

Equal Payment Monthly Payment5,773.94CNY

Total Loan1,000,000CNY

Total Payment1,385,744.92CNY

Total Interest385,744.92CNY

Interest Share27.8%

Payment Breakdown

Principal1,000,000 (72.2%)Interest385,745 (27.8%)

AssessmentLow interest share — light burden

Reference rates (2025)LPR 1Y 3.10% / 5Y+ 3.45% | Fund 2.85%

Calculation steps

1Principal 1,000,000, 240 months, equal payment
2Monthly payment = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1) = 5,773.94
3Total repaid = payment × n = 1,385,744.92
4Total interest = total − principal = 385,744.92 (27.8%)

5Y+ LPR history (year-end)

20204.65%

20214.65%

20224.30%

20234.20%

20243.60%

20253.45%

Equal payment keeps the monthly outlay constant (better for stable budgets); equal principal costs more early on but saves 10–20% total interest over 30 years. LPR repricing applies from your loan's repricing date — a rate cut does not lower your payment immediately.

💡 Switch to the "Prepayment" tab to compare 3 early-payoff plans

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Frequently Asked Questions

What is the monthly payment on a 1 million 20-year mortgage?▼

At 3.45% with equal installments: about 5,774/month and ≈386,000 total interest — saving about 220,000 in interest vs a 30-year term, but the payment is ~1,300 higher.

How do I use the Mortgage Calculator?▼

Open the page and fill in the input fields — results update automatically. Monthly payment, rates and early-payoff comparison.

Are the results accurate?▼

Yes. Standard financial formulas and published rate data are used. For official figures, consult your financial institution.

Is it free? Do I need to sign up?▼

Completely free. No registration, login or download required.

Can I use the results for financial decisions?▼

Results are for reference. Consult a licensed financial advisor before major decisions.

💡

This is a dedicated variant of the Mortgage Calculator, pre-configured for this scenario with tailored FAQs.