Universal loan calculator. Loan calculator (loan calculator)
Our bank calculator will calculate the loan in one click. Just specify the parameters of the requirement you are interested in. loan and the program will make a preliminary calculation in an automated mode. The monthly payment schedule will be generated under the form and will contain a table of payments divided by the principal amount of debt and interest.
Bank calculator for calculating a consumer loan in cash
Before registering a consumer loan, many citizens are interested in the conditions under which lending takes place. How much will I have to pay per month? How much will I overpay for the entire period? What is the percentage of overpayment on a future cash loan? These are common questions people are looking for on the internet in 2019 and will be looking for 2020, 2021 and beyond. Our specialists have developed a fully online universal loan calculator that will help you answer them.
We will describe in detail how to independently work correctly with this calculation program.
What can this calculator calculate?
Correctly calculating a loan does not require special knowledge. Our program is designed in such a way that it will be easy to use as an average individuals and retirees. Previously, you can set 4 parameters in the form:
- Amount cash loan (200000, 500000, 800000 or any other). By moving the slider maximum amount will be 15,000,000 rubles, but you can enter any arbitrary number.
- Loan terms, which can also be absolutely anything - year, 2 years, 3 years, 4 years, 5 years, 7 years, but the slider is set within 6-180 months.
- Interest rate loans. We set 8.9% as the minimum value, and 49.9% as the maximum. But you can also put the number that is convenient for you - 15 per annum, 18 per annum, 16 per annum or 20 per annum.
- And the last one - type of payments... If you plan to pay the loan in equal payments (annuity), then select the "Equal" tab. If you want the amount of the monthly payment to become less over time, then put the active tab "Reduced" (differentiated).
Having configured these conditions, you just have to click on the "Calculate" button. Online math formulas will instantly provide you with data on the following parameters:
- The amount of the monthly payment, in rubles.
- Initial loan amount.
- Full cost (initial + interest).
- Total overpayment (interest in rubles).
- Overpayment ratio, as a percentage.
Usually, after a preliminary calculation, visitors talk about the calculator in social networks and also give a rating. Other people use it to see how convenient and useful our program is to use. And the reviews help to form a consensus about the functionality and usability of the calculator.
Scheduling payments or how to calculate loan payments
To solve this issue, you also do not need to have specialized skills. After receiving the initial data, a table will open under the form, which will reflect an approximate payment schedule for a future short-term or long-term loan. It will present the following data on a monthly basis:
- month number;
- the exact date of the payment;
- the size of the monthly payment (principal debt together with interest);
- the amount of the principal debt in the payment;
- the amount of interest in the payment;
- the balance on the loan after payment of the payment.
Below the payout table, there will be a summary row, which accumulates the full cost and overpayment of the loan. You will understand how much to pay for a loan according to the selected borrowing conditions Money... The data provided will also be sufficient to assess the preliminary early repayment.
Selection of a profitable cash loan
After you calculate the amount of debt yourself, you will have access to a block with the most popular loan offers. The site team tried to collect in one place the products of many banks in Russia. Convenient location of information will help you to leave applications in several banking institutions and after receiving approval, take the money at any branch of the bank.
We hope you found our bank calculator useful!
Which can be arranged under low rate, according to a simplified scheme and with a minimum of documents. The client's task is to assess the profitability of the banks' offers.
Features of the online loan calculator
Our online consumer loan calculator is a convenient service in which the user can make calculations himself, without contacting the bank. Specifically, the calculator allows you to:
- Calculate the full cost of the loan - taking into account the principal debt and "dripping" interest;
- Take into account the calculation scheme used by the bank - annuity or differentiated payment;
- Include in the calculations all commissions and additional payments - one-time or regular;
- Select loan offers based on the parameters entered in the calculator;
- See information in the form of a diagram and a summary payment schedule that can be saved and printed.
Thus, even at the preparatory stage, the client will calculate the financial burden in the calculator. This will help you compare several credit programs and choose the one that promises fewer risks. The calculator also saves time: now you do not need to contact each bank separately to request an approximate payment schedule.
What parameters are used for the calculation?
What is it based on bank client when choosing a loan? On credit terms. They are already taken into account by the online calculator site, in which you need to enter the entire set of parameters - the loan amount, rate, term, payment scheme, etc. More details:
- Credit amount. We are talking about the amount of funds that the client borrows from the bank (excluding interest, commissions and insurance). In 2020, the amount of consumer loans on average ranges from 30 thousand to 5 million rubles. If you provide the bank with a pledge, the amount grows significantly - up to several tens of million rubles.
- Interest rate. Represents the fee for the use of borrowed funds, expressed as a percentage. It is calculated in relation to the loan amount for a certain period (usually a year). Today average rate is from 9 to 13% per annum. It is believed that this is the key condition for any loan. In addition to market dynamics, the rate is influenced by the client's credit history, his current financial burden and income.
- Term. This is the time for which the loan is issued. Judging by the current proposals of banks, it can be from six months to five years, but it is finally approved by the borrower himself. The longer the term, the less payment (and vice versa). The moment of issue is also important - the day from which the loan period started. That's when the bank starts charging interest.
- Repayment method. Otherwise, it is called a payment scheme, which exists in two versions - annuity and differentiated payments. Usually the bank determines the scheme for a particular loan, but sometimes the client himself chooses, based on which payment is more profitable for him.
The big plus of the calculator is that it takes into account all parameters, while borrowers simplify the calculations. For example, the only guideline when choosing a loan is the rate, hence the advertising slogans of banks about “the most low interest". In fact, formally overlap favorable rate there may be additional payments, so an online calculator is so necessary: with it, users accurately determine the amount of overpayment, bypassing banking tricks.
Annuity loan payment
In addition to commissions, there is another loan condition that often escapes the attention of borrowers - the order of payments. The website calculator calculates annuity payments on a loan on a par with differentiated ones (you can indicate this by clicking on the appropriate button). In what way and why exactly in this way do banks calculate loans most often?
An annuity assumes that the bank calculates equal payments over the entire term of the loan. At the same time, in the first half of the term, the loan debt is practically not repaid, since the borrower's money goes mainly to interest. Payments are small, but due to this, the amount of accrued interest increases, and, consequently, the bank's profit increases.
Differentiated loan payment
With a differentiated payment, the loan debt is repaid evenly, starting from the first payments, and interest is calculated based on the actual balance. Therefore, each subsequent payment will be less than the previous one, which reduces the cost of the loan. In case of early repayment with this type of payments, the borrower can significantly save on the interest paid.
✯Is it profitable to repay the loan ahead of schedule?
Early repayment is always profitable: this is how the borrower pays to the bank less percent... Than the contract intended. However, there are nuances associated with the payment scheme. With an annuity, it is profitable to repay the loan ahead of schedule only in the first half of the term, when the bank charges the most interest. With a differentiated loan, on the contrary: the earlier you start repayment, the less the overpayment will be.
A consumer loan is a loan that you take out for various consumption needs. For example, you want to buy a TV in a store or a washing machine, or go on vacation.
Buying a tour from an operator is buying a service. Those. you consume the service and take out a consumer loan.
The consumer loan calculator is designed for calculating cash loans, taking into account commissions and insurance.
Commissions and insurances are introduced through early payments.
Calculation options
The calculator allows you to simply calculate the loan - enter the amount, rate, term and press the calculation.
The second option is the calculation of early repayment. You set the loan data and the dates and amounts of early repayments. If you want to understand how much you will repay when you deposit a certain amount on a loan each month, we recommend using the forecast calculator
Cm. also:
It will allow you to understand how quickly you will close the loan.
How to compare two loans
Before receiving bank loan it will not be superfluous to calculate the overpayment of the loan. It is best to compare the offers of several banks and choose the best one. The calculator on this page can be used for this. However, you have to open another page with a calculator to compare 2 different loans. Especially for comparing loans and early repayment schemes, we have made a loan comparison calculator
See also:
It will allow you to understand which early repayment scheme to choose - to reduce the term or the amount of the payment. He will also help in choosing the most profitable lending option.
The procedure for calculating a loan using a calculator
There are 2 options for calculating a loan
The first is a preliminary calculation when you want to borrow cash. For this calculation, the date of the first payment is not needed. It can be left as default. It does not affect the amount of the monthly payment.
Loan amount - it is spelled out in loan agreement and is taken without taking into account down payment for a product or service.
Interest rate - nominal rate on a loan without taking into account commissions and insurance. Taken from the loan agreement. You can enter 3 decimal places.
Expressed without division by one hundred.
Term - an integer number of months for which the loan is taken. If you have 2 years for example, then you need to enter 24 months
The second option is the calculation of the existing loan
Next comes the field - the date of the first payment. This parameter is already important when you took out a loan.
For a borrowed loan, the calculation by date is important. That is, when building a schedule, the date of the next payment is indicated - the number of the day in the month.
Date-based settlement is important for early repayments. The date of early deposit of funds depends on which month the new reduced payment will be.
How to use the calculator?
After entering the necessary data indicated above, you need to click on the calculation button.
After pressing it, the following options are possible
- Data entry errors. Please note that dates must be entered through a dot in the format dd.mm.yuyu. Amounts are entered in a dot, the rate can have 3 decimal places
- The loan was calculated successfully. A payment schedule has been drawn up. Loan overpayment was calculated
Read also:
If the calculation is successful, you can start adding early repayments. In the form on the right - adding an early repayment - you need to enter the date, type and amount and click add. The loan schedule and other parameters will be automatically recalculated. The total overpayment will change.
In case of full early repayment - after this payment, the schedule will be zeros, regardless of whether the amount or term was reduced.
If you added repayment with a change in maturity, there will be fewer lines in the schedule compared to the initial option.
Repayment with a change in amount will reduce annuity payment on a loan. The number of lines in the payment schedule will remain the same.
If a change in the interest rate has been added, the payment schedule will be recalculated at a new interest rate from the moment when this change took place. The payment may increase or decrease depending on whether the rate was decreased or increased.
Exporting data to Excel
After the calculation, you can save the results on your computer. To do this, you need to click on the link "Get Excel file". The file will be generated in Excel 2003 format and the link "Download file" will appear. You need to click on this link and the file will be saved to you. You can print the file and return to it at any time.
When calculating a loan, the link to this file disappears and you will need to generate an Excel file again.
I recommend adding the calculator to your bookmarks for ease of use in the future.
Popular questions and answers
Are you planning to take a loan this year and decide which bank's program will be more profitable - our loan calculator will help you make the right choice. financial portal... Use a simple and accurate online program by setting your own calculation parameters.
By default, certain conditions are already specified in the loan calculator:
- the amount of borrowed funds;
- debt repayment term;
- interest rate;
- approximate date of issue.
Use the specified parameters or set your conditions online. To do this, enter or select the numbers you need from the drop-down list. Click Calculate Costs. With the help of a loan calculator, literally in a second, you will find out the cost of a loan, which depends on the interest and the maturity of the debt. You will also see a preliminary schedule of monthly payments.
Note! Between the calculation menu (below the visual diagrams) and the graph is Best offer for the current year in your area. If you want to see more detailed terms and conditions of this product, just click on its name.
As a result of the calculation, the following data on the selected loan will appear on the online screen:
- the amount of the monthly payment. The figure shows how much funds will have to be deposited regularly before the loan is closed;
- total payment (how much will have to be returned, taking into account the interest rate and the period for which you take the borrowed funds);
- loan amount - the funds provided by a financial institution;
- interest - the amount of overpayment on the loan (the benefit that the bank will receive from cooperation with the client).
Note! Loan calculator by default calculates an equal installment scheme (annuity payments), but you can choose another option. To change this condition, click the "Differentiated Payments" item with the cursor. If you plan to deposit funds not in strict accordance with the schedule, click "Add redemption +" and indicate its amount and the planned date.
Below this calculation will be the repayment schedule in numbers and diagrams.
If you are satisfied with the terms of the loan, fill out an application online - without visiting the office. By clicking "Checkout", you will go to the page financial institution where you can fill out the questionnaire.
How to use an online loan calculator?
The client does not need to confirm his income, since the bank knows about everyone cash receipts... If you are already served in this organization, the procedure for applying for a loan will be much easier, and the processing of the application will be faster.
Use the online calculator to get a preview of how you have to repay the loan. Click on the button "Detailed calculation" - the program will calculate the payment schedule taking into account the size of the monthly payment, indicating how much of the funds goes to cover the interest on the loan and how much to repay its "body" (the amount given to you). On the portal "Vyberu.ru" you can proceed to the registration of the application online. After filling out the questionnaire in the form of the bank and sending him a request, you only need to wait for his answer (it will be sent in the form of an SMS to the specified phone number) and, if approved, arrive at the office with necessary documents to sign the contract.
Loan calculator online will help you calculate monthly payment and will allow you to independently choose the conditions that meet your financial capacity... In addition, you can independently compare the various types of loans available to you and choose the best option for the payment schedule, size and type of payments, without resorting to the help of bank employees.
There are two types of payments available for calculation: annuity and differentiated. Differentiated payment is repayment equal amounts principal + decreasing interest accrued on the principal balance. As a result, in case of differentiated payment, the amount monthly payments is constantly decreasing. The annuity payment is made in equal installments every month. It should be borne in mind that from the point of view of overpayment, differentiated payments are more beneficial to the borrower, and annuity payments to the bank. For short terms, the difference in overpayment is insignificant, but with a long loan term, the service will show a significant discrepancy. Especially if the interest rate is high.
A typical pattern for long-term loans with equal payments is a minimal decrease in the principal at the beginning of use. In fact, the borrower only pays interest, and only a small part goes to pay off the debt. The imbalance begins to disappear around the middle of the loan term. The calculator will be useful for calculating loans to both individuals and legal entities.
To start the calculation, fill in the form below and click the "Calculate" button.