Loan interest v savings interest

I've just lost an hour trying to get my head around something that should be quite straightforward and would appreciate some help.

Say I've got e5000 sitting in a savings account earning 1.68% after DIRT. According to my calculations, that amt will earn about e84 (5000*1.0168) in year 1, and assuming compound interest, just over e85 in year 2, meaning I'd then have about e5169 at the end of year 2.

However, if I put e5000 @ 1.68% over 2 years into any loan interest calculator I can find, I come out with

Payment Every Month e212.00
Total of 24 Payments e5,087.97
Total Interest e87.97

Or numbers to that effect. Basically half of what I'm calculating interest at.

Can someone please beat me over the head electronically and tell me where I'm being stupid.

(* for reference, I'm loaning the money out, and want to charge an interest rate commensurate with what the 5k would earn if it was staying in the savings account)

If your paying back the principal in the same time frame the interest is divided by 2. If your paying it all back at the end of the term it's the full whack.

The loan interest is calculated on a reducing balance, so in very rough terms you are paying interest on the full amount in month 1, but half way through the term of the loan (i.e. after 1 year) you are only paying interest on (approx) half the initial amount borrowed.

if it was an interest only loan - your calculation would show the same amount for loan and deposit.

Of course it is, *smacks head*. Thanks both.