Bank loan interest calculator. Loan calculator online
Everyone faced the problem of lack of money to purchase household appliances or furniture. Many have to borrow until payday. Some prefer not to go to friends or relatives with their financial problems and contact the bank immediately. Moreover, there are a huge number of credit programs, which allow you to solve the issue with the purchase of expensive goods on favorable terms.
This system economic relations, which provides for the transfer of valuables from one owner to another for temporary use on special conditions. In the case of banks, this value is money. A person needs a certain amount, an economist evaluates the client's solvency and makes a decision. If everything is in order, the necessary funds are provided for a certain period. For this, the client pays interest to the bank.
Do you need cash to buy goods? It's worth getting a loan. A low percentage always attracts customers. Therefore, popular financial institutions provide credit cards and cash loans on favorable terms. And the loan formula) will help you figure out how much the bank will have to pay for the service.
Overpayment
In the case of a bank loan, money is the commodity. For the provision of services, the client must pay a fee to the financial institution. To understand how the overpayment amount is calculated, it is worth understanding the following concepts:
- the body of the loan;
- commission;
- annual interest rate.
The repayment system matters, as well as the term of the loan. This will be discussed below.
What is the body of a loan?
The amount that a person borrowed from a bank is the body of the loan. As payments are made, this amount decreases. It is on the body of the loan that interest and, in most cases, commissions are charged.
Consider an example. Client issued loan agreement May 1 in the amount of 20,000 rubles. A month later he made minimum payment in the amount of 2000 rubles. Of this amount, 500 rubles were spent on paying interest on the loan, and 1,500 rubles were spent on paying off the body. Thus, as of June 1, the body of the loan decreased to 18,500 rubles. In the future, all interest will be charged on this amount.
Commission
The percentage that the client gives to the bank in excess of this is the commission. Different financial institutions may offer different loan terms. The commission can be charged both on the body of the loan and on the amount that the client initially borrowed. Lately Many banks waive the commission altogether and set only an annual interest rate.
Consider an example with a fixed fee of 0.5%. The client took a loan in the amount of 10,000 rubles. In this case, the monthly commission will be The formula (calculation of interest on the loan) looks like this: 10,000: 100 X 0.5.
If the commission is not fixed, it is charged on the balance of the debt (loan body). This option is more beneficial for the client, since the amount of interest is constantly decreasing. As a rule, the commission is charged on the balance of the debt as of the last business day of the month. That is, if the client paid the entire amount on the 28th, and the last business day falls on the 30th, you will not have to pay a commission.
Annual interest rate
If there is no commission under the loan agreement, the annual rate will be the basis for calculating the overpayment. Interest is always charged on the balance of the debt. The faster the client repays the loan, the less he will have to overpay.
How much interest does the loan provide? Various banks offer their terms. It is possible to borrow money at a rate of 12% to 25%. Next, it will be described how the calculation of interest on the loan (formula) is carried out. Example: a client took out a loan in the amount of 10,000 rubles. annual rate under the contract is 15%. On the day, the client will overpay 0.041% (15: 365). Thus, in the first month you will have to pay the amount of interest in the amount of 123 rubles.
10,000: 100 x 0.041 = 4 rubles 10 kopecks - the amount of the overpayment per day.
4.1 x 30 = 123 rubles / month (assuming there are 30 days in a month).
Let's consider further. The client made the first payment in the amount of 500 rubles. There is no contract fee. 123 rubles will go to interest, 377 rubles - repayment of the body. The balance of the debt will be 9623 rubles (10,000 - 377). This is the body of the loan, on which interest will be charged in the future.
How to quickly calculate the overpayment on the loan?
To a person who is far from financial sphere difficult to do any calculations. Many banks offer a loan calculator for customers, which allows you to quickly calculate the overpayment under the contract. All you need to do is enter the amount of debt, the estimated payment period and the annual interest rate on the institution's website. Within a few seconds, you will be able to find out the amount of the overpayment.
The loan calculator is an auxiliary tool that allows you to roughly calculate the amount of the expected overpayment. The data is not accurate. The amount of the overpayment depends on the amount of funds that the client will deposit, as well as on the loan repayment period.
What are the loan repayment systems?
There are two options for repaying a loan. Classic provides for the payment of a certain part of the body of the loan and the interest rate. Example: the client decided to take a loan for a year in the amount of 5000 rubles. Under the terms, the annual rate is 15%. Monthly, you will have to pay the body of the loan in the amount of 417 rubles (5000: 12). The formula (calculation of interest on a loan) will look like this:
5000: 100 x 0.041 = 2 rubles 05 kopecks - the amount of the overpayment per day.
2.05 x 30 \u003d 61 rubles 50 kopecks (provided that there are 30 days in a month) - the amount of the overpayment per month.
417 + 61.5 = 478 rubles 50 kopecks - the amount of the mandatory minimum payment.
With the classic repayment system, the amount of payments decreases every month, since interest is accrued on the balance of the debt.
The annuity system provides for loan payments in equal installments. Initially, a fixed amount of the minimum payment is set. As the debt is repaid, most of the money goes to repay the body of the loan, as the overpayment of interest decreases.
Consider an example. The client decided to take a loan for 10 years in the amount of 100,000 rubles. The annual rate is 12%. Overpayment per day 0.033% (12:365). The formula (calculation of interest on a loan) will look like this:
100,000: 100 x 0.033 = 33 rubles - the amount of the overpayment per day.
33 x 30 = 990 rubles - the amount of the overpayment per month.
The minimum payment can be set at 2000 rubles. At the same time, in the first month to pay off the body loan will go 1100 rubles, then this amount will decrease.
Penalties
If the bank customer fails to fulfill his debentures, the financial institution has the right to charge a fine. The conditions must be described in the contract. The fine can be presented as a fixed amount or in the form of an interest rate. If, according to the contract, penalties are provided in the amount of 100 rubles, for example, it will not be difficult to calculate the amount of the next minimum payment. You just need to add 100 rubles.
Things are more complicated if penalties are charged in the form of an interest rate. As a rule, the calculation is based on the amount of debt for a certain period. For example, a client had to make a minimum payment of 500 rubles by May 5, but did not do so. According to the agreement, the penalty is 5% of the amount owed. The next payment will be calculated as follows:
500: 100 x 5 = 25 rubles - the amount of the fine.
Until June 5, the client will need to deposit 1025 rubles (two minimum payment 500 rubles and 25 rubles fine).
Summarize
It is easy to calculate the interest on a loan on your own. One has only to carefully study the terms of the contract and use the formulas described above. Facilitate the task of special loan calculators, which are presented on the official websites of financial institutions. It is worth remembering that only an approximate calculation is made. The exact amount may depend on many factors, such as the loan term, repayment amounts, etc. The shorter the loan term, the lower the overpayment.
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 a purchase of a service. Those. you consume a service and take out a consumer loan.
Calculator consumer credit designed to calculate cash loans, taking into account commissions and insurance.
Commissions and insurance are introduced through early payments.
Calculation options
The calculator allows you to simply calculate the loan - enter the amount, rate, term and click calculation.
The second option is to calculate early repayment. You set the loan details and the dates and amounts of the early repayments. If you want to understand how much you will repay if you deposit a certain loan amount each month, we recommend using the forecast calculator
See 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 on 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 will 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. It will also help you choose the best loan option.
How to calculate a loan using a calculator
There are 2 loan options
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 monthly payment.
Loan amount - it is written in the loan agreement and is taken without taking into account down payment for a product or service.
Interest rate - nominal rate on a loan excluding commissions and insurance. Taken from the loan agreement. You can enter 3 decimal places.
Expressed without dividing 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
The next field is the date of the first payment. This parameter is already important when you took out a loan
For a loan taken, the calculation by date is important. That is, when plotting the schedule, the date of the next payment is indicated - the number of the day in the month.
Date-based calculation is important for early repayments. The date of early payment of funds determines in which month the new reduced payment will be.
How to use the calculator?
After entering the required data 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.yyyy. Amounts are entered in through a dot, the rate can have 3 decimal places
- There was a successful settlement of the loan. Set up a payment schedule. Loan overpayment calculated
Read also:
If the calculation is successful, you can start adding early repayments. In the form on the right - adding early repayment - you need to enter the date, type and amount and click add. There will be an automatic recalculation of the loan schedule and other parameters. The total overpayment will change.
In the case of full early repayment, after this payment, there will be zeros in the schedule, regardless of whether the amount or term was reduced.
If you added a repayment with a change in the term, there will be fewer lines in the chart compared to the initial version.
Repayment with a change in the amount will reduce the annuity payment on the loan. The number of lines in the payment schedule will remain the same.
If you added a change in the interest rate, the payment schedule for the new interest will be recalculated from the moment when this change took place. The payment may increase or decrease depending on whether the rate was reduced or increased.
Export data to Excel
After the calculation, you can save the results on your computer. To do this, click on the link "Get Excel file". An Excel 2003 file will be generated and a "Download file" link 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 the loan, the link to this file disappears and you will need to generate the Excel file again.
I recommend bookmarking the calculator for ease of use in the future.
Popular questions and answers
Not every Russian has the opportunity to make an expensive purchase. Many people who dream of buying new appliances or real estate are forced to take part in consumer or mortgage lending. Studying presented on the domestic financial market credit products, every Russian citizen is trying to save on interest. To find the most favorable loan in all respects, individuals need to know how to calculate monthly payments and interest rates. This can be done directly at the branch. financial institution or independently, using special formulas.
How to calculate the annual interest on a loan?
S = Sz * i * Kk / Kg, where
- S is the amount of interest;
- Sz - the amount of the loan (for example,);
- i – annual interest rate;
- Kk - the number of days allocated by the bank to repay the loan;
- Kg is the number of days in the current year.
How to calculate the amount of accrued interest, you can consider the following example:
- Loan term - 1 year.
- Annual interest rate (approximately the same as for those received from other banks) - 18.00%.
- S \u003d 300,000 * 18 * 365 / 365 \u003d 54,000 rubles will have to be paid by an individual for using credit funds.
To calculate the annual interest, customers of a financial institution need to carefully study the loan agreement. The agreement usually specifies not only the amount of the loan, but also what amount must be repaid at the end of the contract. For calculations, it follows from greater amount subtract the smaller one, then divide the result by the duration of the loan program, then multiply the final figure by 100%.
- An individual has issued a loan - 300,000 rubles.
- Loan term - 1 year.
- At the end of the term, you need to return - 354,000 rubles.
- Annual interest S \u003d (354,000 - 300,000): 1 * 100% \u003d 54,000 rubles.
There is another way to calculate. The borrower should sum up all monthly payments, and then add additional payments to the result obtained (for example, additional fees, commissions, the amount of funds charged by the bank for servicing the loan program, etc.). After that, the result obtained must be divided by the term of the loan, and the final figure multiplied by 100%.
- An individual has issued a loan - 300,000 rubles.
- Loan term - 1 year.
- The annual interest rate is 18.00%.
- Additional payments - 2,500 rubles.
- The amount of the monthly payment is 4,500 rubles.
- Annual interest S \u003d (4,500 * 12 + 2,500) * 18.00% : 1 * 100% \u003d (54,000 + 2,500) : 1 * 100% \u003d 56,500 rubles.
Formula for calculating interest on a loan
Today, the banking sector uses two main schemes for calculating interest on credit programs. In this case we are talking on differentiated and annuity payments, which borrowers are required to make once a month to the current account of their creditor.
- Sa - payment amount (annuity);
- Sk is the loan amount;
- t is the number of obligatory payments under the credit program.
How the calculations are carried out, you can consider an example:
- Monthly payment amount = (60,000 * (0.17/12)) : 1 - (1: (1: (1 + (0.17:12)))) = 850.00: 0.1553 = 5,472, 29 rubles.
When calculating the amount of monthly payments (differentiated), banks use a different formula:
- Sp - the amount of accrued interest;
- t is the number of days in the payment period;
- Sk is the amount of the loan balance;
- P is the interest rate on the loan (annual);
- Y is the number of days (calendar) in a year (366/365).
- An individual has issued a loan in the amount of 60,000 rubles.
- The annual interest rate is 17.00%.
- The term of the loan is 1 year (12 months).
- The loan amount, which is repayable every month, is 5,000 rubles.
- For January = (60,000 * 17 * 31) : (100 * 365) = 866.30.
- For February = (55,000 * 17 * 28) : (100 * 365) = 717.26 ...
- For December = (5,000 * 17 * 31) : (100 * 365) = 72.19.
How can individuals choose the most profitable interest accrual scheme?
To potential borrowers to choose the most profitable interest calculation scheme, a comparison of both methods should be made. If the emphasis is on the amount of the overpayment, then it will be more profitable to draw up loan programs that provide for differentiated monthly payments. It should be noted that this method also has a disadvantage. Unlike annuity payments, with a differentiated method of repaying a loan, the main credit burden will be placed on the first months of using the program.
If we consider mortgage loan products, then the annuity method of repayment will be extremely unprofitable for them, since in this case individuals will have to overpay very large amounts of money.
How to calculate a mortgage for 15 years?
Every person sooner or later begins to think about how to improve his living conditions. If he has a sufficient amount of savings, he can purchase a more spacious living space. In the event that individuals do not have the opportunity to save even a third of the value of a property, the only option to improve living conditions is to participate in mortgage lending.
Currently, in the domestic financial market, a huge number of banks offer mortgage loans to Russians. To choose the most profitable terms lending, individuals should independently calculate how much interest they will have to pay, for example, for 15 years. When making calculations, potential borrowers should take into account that the cost of a mortgage loan includes:
- the amount of the loan;
- the amount of interest accrued for the entire period of using the loan;
- insurance payments;
- the cost of the appraiser's services;
- additional payments.
As a rule, mortgage loans can be repaid either by annuity or differentiated payments. It will be easier for potential borrowers to calculate the overpayment on a loan in the case of annuity payments. To do this, they need to use the formula:
X = (S*p) / (1-(1+p)^(1-m)), where:
- X - the amount of the monthly payment (annuity);
- S - the amount of the mortgage loan;
- p - 1/12 of the interest rate (annual);
- m is the term of the mortgage loan (in months), in this case 15 years = 180 months;
- ^ - in degree.
When calculating differentiated payments, it is customary to use the following formula:
- OSH * PrS * x / z - the monthly payment is determined.
- OSZ / y - debt reduction after making a monthly payment.
- OSZ - loan balance (calculation is carried out separately for each month);
- PrS - interest rate (general);
- y is the number of months remaining until the full repayment of the loan;
- x is the number of days in the billing month;
- z is the number of payment days (total) in a year.
Advice: in case of mortgage loan, which provides for differentiated payments, it is better for potential borrowers to use a loan calculator. This is due to the fact that a complex formula is used to carry out the calculations. You can also contact the branch of the bank where you plan to issue mortgage program, where the specialist will calculate the amount of the monthly payment and answer all the questions of interest to the client, for example, is it possible.
How to calculate the monthly loan payment?
Many Russian citizens who choose a loan program use a standard formula for calculating monthly payments. They take the amount of the loan as a basis, multiply it by the monthly interest rate, and multiply everything by the number of months of lending.
- Interest rate – 10.00%.
- First of all, the monthly interest rate is determined - 10.00% / 12 = 0.83.
- (100,000 x 0.83%) x 12 = 9,960.00 rubles must be returned monthly.
Advice: this formula can be applied in the case of annuity payments, in which the borrower will have to return once a month fixed amount funds. In the event that a bank has issued a loan on the terms of differentiated payments, the amount of monthly payments will be calculated using a different formula. It is also worth noting that when paying with differentiated payments, individuals will have to return a smaller amount to the lender every subsequent month.
When calculating differentiated payments to individuals, one important point must be taken into account. The interest rate will be charged each month on the loan amount reduced by the monthly payments already made.
- The loan amount is 100,000 rubles.
- The duration of the program is 1 year.
- Monthly interest rate 0.83%.
- Monthly payment (loan amount / number of months (payment periods)).
The amount of monthly payments (differentiated) will be calculated for each month:
Loan duration | Calculation of monthly interest | Monthly payment amount |
January | 100 000 * 0,83% | 8,333.33 + 830 = 9,163.33 rubles |
February | (100 000 – 8 333,33) * 0,83% = 91 666,67 * 0,83% | 8,333.33 + 760.83 = 9,094.16 rubles |
March | (91 666,67 – 8 333,33) * 0,83% = 83 333,34 * 0,83% | 8,333.33 + 691.67 = 9,025.00 rubles |
April | (83 333,34 – 8 333,33) * 0,83% = 75 000,01 * 0,83% | 8,333.33 + 622.00 = 8,955.33 rubles |
May | (75 000,01 – 8 333,33) * 0,83% = 66 666,68 * 0,83% | 8,333.33 + 553.33 = 8,886.66 rubles |
June | (66 666,68 – 8 862,87) * 0,83% = 58 333,35 * 0,83% | 8,333.33 + 484.17 = 8,817.50 rubles |
July | (58 333,35 – 8 333,33) * 0,83% = 50 000,02 * 0,83% | 8,333.33 + 415.00 = 8,748.33 rubles |
August | (50 000,02 – 8 333,33) * 0,83% = 41 666,69 * 0,83% | 8,333.33 + 345.83 = 8,679.16 rubles |
September | (41 666,69 – 8 333,33) * 0,83% = 33 333,36 * 0,83% | 8,333.33 + 276.67 = 8,610.00 rubles |
October | (28 787,94 – 8 333,33) * 0,83% = 25 000,03 * 0,83% | 8,333.33 + 207.50 = 8,540.83 rubles |
November | (25 000,03 – 8 333,33) * 0,83% = 16 666,70 * 0,83% | 8,333.33 + 138.33 = 8,471.66 rubles |
December | (12 121,28 – 8 333,33) * 0,83% = 8 333,37 * 0,83% | 8,333.33 + 69.17 = 8,402.50 rubles |
The example shows that every month the body of the loan to be repaid will remain unchanged, and the amount of accrued interest will change downwards.
How to calculate the monthly loan payment through the program?
In this program, you need to fill in the empty windows in which you must enter data:
- loan amount;
- the currency in which it is planned to issue a loan product;
- the interest rate offered by the bank;
- duration of the loan program;
- type of payments (differentiated or annuity);
- start of loan payments.
After entering all the data, potential borrowers only need to click on the “calculate” button. Literally in a few seconds, information will be displayed on the monitor screen that will allow individuals to give financial assessment selected loan program.
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Every Russian who decides to use an affordable banking product, for example, must evaluate their financial opportunities. To do this, he needs to make calculations annual interest and monthly payments. Calculations will be possible only with the use of special formulas. Also individuals can use free loan calculators, which are located on the official websites of Russian banks. The calculations made will allow potential borrowers to understand whether they will be able to service the selected loan or whether they should look for a program with more affordable conditions.
In contact with
which can be issued under low rate, according to a simplified scheme and with a minimum of documents. The task of the client is to evaluate the profitability of the offers of banks.
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 chart 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 loan programs and choose the one that promises less risk. The calculator also saves time: now you do not need to contact each bank individually to request an approximate payment schedule.
What are the parameters for the calculation?
What does it rely on bank client when chooses a loan? on the terms of the loan. They are already taken into account by the site's online calculator, in which you need to enter the entire set of parameters - the loan amount, rate, term, payment scheme, etc. More details:
- Amount of credit. We are talking about the amount of funds that the client borrows from the bank (excluding interest, commissions and insurance). In 2020, the average amount of consumer loans ranges from 30 thousand to 5 million rubles. If you provide a bank with collateral, the amount grows significantly - up to several tens of millions of rubles.
- Interest rate. It is a fee for the use of borrowed funds, expressed as a percentage. It is charged in relation to the loan amount for a certain period (usually - a year). Today average rate ranges from 9 to 13% per annum. It is believed that this is a key condition of any loan. In addition to market dynamics, the client's credit history, current financial burden and income also affect the rate.
- Term. This is the time for which the loan is issued. Judging by the current offers 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 lower the payment (and vice versa). The moment of issuance 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 the payment accrual scheme, which exists in two versions - annuity and differentiated payments. Usually the scheme for a particular loan is determined by the bank, but sometimes the client himself chooses, based on which payment is more profitable for him.
A big plus of the calculator is that it takes into account all the 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 “lowest interest”. In fact, overlap formally favorable rate additional payments may occur, which is why the online calculator is so necessary: with it, users accurately determine the amount of the overpayment, bypassing bank tricks.
Annuity loan payment
In addition to commissions, there is another loan condition that often escapes the attention of borrowers - this is the order of payments. The site calculator calculates annuity payments on a loan on a par with differentiated payments (you can specify this by clicking on the appropriate button). In what way and why do banks calculate loans most often in this way?
An annuity assumes that the bank accrues 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 profit of the bank grows.
Differentiated loan payment
With a differentiated payment, the loan debt is repaid evenly, starting from the first payments, and interest is accrued 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 payment, the borrower can significantly save on the interest paid.
✯Is it profitable to repay the loan ahead of schedule?
Early repayment is always beneficial: this is how the borrower pays the bank less percent. What was the agreement. However, there are nuances associated with the payment scheme. With an annuity, early repayment of the loan is beneficial only in the first half of the term, when the bank charges the most interest. With a differentiated loan, the opposite is true: the earlier you start repayment, the less the overpayment will be.
Today online loan calculators are placed not only on the websites of banks, but also on most specialized Internet resources devoted to financial topics. The reason for this situation is obvious and lies in the convenience and ease of use of such tools.
Literally within a few seconds, anyone can calculate approximate parameters on the online loan calculator available credit. Examples of such calculations are given in the table.
Loan terms and conditions | Calculation result | ||||
Sum | Term | Bid | Monthly payment, rub. | Amount of overpayment, thousand rubles | |
450 thousand rubles | half a year | 12% | 77 647 | 15,785 | 0,466 |
500 thousand rubles | Year | 12% | 44 424 | 32,978 | 0,533 |
1 million rubles | Year | 18% | 91 680 | 99,798 | 1,100 |
1.5 million rubles | 2 years | 15% | 72 730 | 245,144 | 1,745 |
2 million rubles | Year | 11% | 176 763 | 120,744 | 2,121 |
3 million rubles | 5 years | 11% | 65 227 | 912,792 | 3,913 |
5 million rubles | 5 years | 10% | 106 235 | 1 372,894 | 6,373 |
5 million rubles | 7 years | 10% | 83 006 | 1 971,075 | 6,971 |
The ability to pre-calculate a loan allows you to determine its most important parameters, which include: the amount of regular payment, the amount of overpayment and overall size overall loan payments. A comparison of several payment options clearly shows which cash lending option is most beneficial for a potential borrower.
Loan interest calculation
The key parameter for comparing different loans is the amount of interest paid or, as this indicator is often called, the amount of overpayment. It is she, along with effective interest rate, demonstrates the real profitability of a particular banking product for the client. Below are examples of calculations for various loans, sorted by this parameter.
Loan terms and conditions | Calculation result | ||||
Sum | Term | Bid | Overpayment amount | Monthly payment | Total amount of payments, million rubles |
500 thousand rubles | Year | 10% | RUB 27,402 | RUB 43,958 | 0,527 |
500 thousand rubles | 1.5 years | 10% | RUB 40,433 | RUB 30,029 | 0,540 |
750 thousand rubles | Year | 10% | RUB 41,102 | RUB 65,937 | 0,791 |
1 million rubles | Year | 10% | RUB 54,803 | RUB 87,916 | 1,055 |
750 thousand rubles | 1.5 years | 10% | RUB 60,650 | RUB 45,043 | 0,811 |
1 million rubles | 1.5 year | 10% | RUB 80,866 | RUB 60,057 | RUB 1.081 million |
Calculation of the monthly loan payment
No less important in the process of choosing a loan is the value monthly payment by him. The value of this parameter determines how serious the financial burden will fall on the borrower. Below are examples of calculating the terms of a cash loan with the allocation of this indicator