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The Loan Calculator
The Loan Calculator
With the Free Online Loan Calculator, you can calculate your monthly payments and the total costs of a loan based on the effective annual interest rate.
The calculation is based on the effective annual interest rate, which reflects the actual cost of the loan, including interest and other fees associated with the loan. For example, the nominal fixed interest rate may be 1.5%, while the effective annual interest rate can rise to 1.9% due to additional costs, such as processing fees or insurance premiums. Any additional fees, such as account maintenance fees or other costs that may not be included in this calculation, can be entered separately. It is recommended that you clarify all incurred costs in detail with your bank or financial institution and use this calculator only as a rough estimate.
Instructions
Enter Loan Amount: Input the amount you wish to borrow.
Effective Annual Interest Rate: Enter the effective annual interest rate provided by your bank or lender.
Select Loan Term: Enter the duration of the loan, either in years or months.
Additional Costs (optional): If your loan is associated with other recurring costs (e.g., account maintenance fees, processing fees), enter them separately.
Start Calculation: Click on "Calculate" to compute the monthly payment and the total cost of the loan.
Please note that the values calculated here may deviate from the actual conditions.
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