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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 uses the effective annual interest rate, which includes interest and other loan-related costs. For example, a nominal rate of 1.5% can result in an effective rate of 1.9% due to fees like processing or insurance. Additional costs not included here can be added separately. Always check all fees with your bank and use this calculator 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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