Personal Loan Calculator – The Calculator Site

Use these personal loan repayment calculators to calculate monthly repayment and interest amounts for personal loans, student loans or any other type of credit agreement. The first calculator breaks down the monthly repayments for a secured loan or not. The second helps you calculate the repayment term of the loan.

Although every effort has been made to construct these loan repayment calculators, we can not be held liable for any special, incidental, consequential or consequential damages or material damage. Pecuniary losses of any kind resulting from or relating to the use of calculator tools and information derived from the website. These tools are here only as a service, please use them at your own risk.

The calculations provided by the loan payment calculators are just a guide. Please consult an independent financial advisor for professional advice.
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Calculation of personal loans

Calculation of personal loans

Nowadays, we seem to be bombarded by ads offering personal loans, and instant credit seems to have never been so easy and accessible. Personal loans give you the opportunity to get them initial lump sum and then gradually return it to the lender. Of course, there are different types of loans and they all have a different degree of risk compared to a variable remuneration interest rate.

The most common reasons for taking out a personal loan in 2019 are:

  • Debt consolidation
  • Pay for a dream wedding
  • Pay medical bills
  • Refund credit cards
  • Financing renovations
  • Financing a new car
  • Pay funeral expenses (more and more common!)
  • Finance a dream vacation

Why use this personal loan calculator?

Why use this personal loan calculator?

Whatever your reason for borrowing, our personal loan calculator is there to help you calculate examples of monthly repayments you may have to do. By providing you with a guide to possible loan repayment figures, you will then feel better informed when you assess the risk and benefits. To take a personal loan. You will also find in US News a very useful article dealing with different types of loans and loans.
to find the best hotel deals and best rates for 2019

How to calculate a personal loan

How to calculate a personal loan

To begin your calculation, enter the amount you expect to borrow, along with the annual interest rate and the number of months you plan to borrow, borrow money for. If you wish, you can change the start date of the loan and include any additional deposits you make at the beginning, as well as any additional fees.
lump sum payments. Once you click on the “calculate” button, the personal loan calculator will show you:

  • Your regular monthly payment
  • The total interest you will pay
  • The total amount of your loan repayment
  • Your estimated payment date

You will also see charts and a monthly repayment schedule of your principal and personal loan interest payments. If you want to calculate the amount of unfunded loans, indicate the simple interest calculator to try.

FAQ on the personal loan calculator

FAQ on the personal loan calculator

Here are some common questions you have asked about our calculator:

What is the effective annual rate?

The effective annual rate is the annual interest rate you pay on a loan, taking into account the effect of capitalization. This loan calculator composes interest on a monthly basis (the compound interest calculator has several options for composition).

What is a balloon payment?

A lump sum payment is a large lump sum payment made at the end of a long-term loan. It is commonly used in auto finance loans to reduce monthly repayment figures. You can find more information about balloon payments in our article What is a balloon payment?

What is the APR?

APR stands for annual percentage rate and is an important factor in determining the overall cost of a personal loan. You can use APR to compare different loan offers. When you take out a loan with a finance company, its offer may include additional fees associated with the loan. The APR figure takes this information into account and gives you a simple percentage for you to compare and compare prices.

Why are loan repayment interest different from APR?

The pie chart presented with the results of your personal loan calculator displays the total interest as a percentage of the total amount repaid. The APR or annual effective rate represents the annual rate interest rate.

Borrowed Money, Credit Banks and Loans?

Money lent, banks, loans ??? What is it???

Money lent, banks, loans ??? What is it???

From the earliest times until today man still does what the monkey did, says a song of the Titans, analyzing well is a half truth, since in the times of the cavemen, because there is not even mention of what could be money, these men used commodities as the basis of exchange among themselves, these exchanges were known as “barter.”

Let’s take an example to make it easier to understand: a person who planted bananas traded bananas for something that someone else had produced that was in their best interest.

As time went by, the exchange of goods among the peoples grew too much, and later men began to make use of precious material called gold and silver as a means of facilitating trade in general. But being of metal, gold and silver were not easy, much less practical to carry from one side to the other.

” Banks are intermediate institutions between surplus agents and deficit agents, who, in addition to others, exercise the function of capturing surplus funds and lending them to the deficient, generating the margin of profit denominated bank spread. Every bank, public or private, has these characteristics. Banks also have the function of depositing capital in forms of savings, financing cars and houses, exchanging international currencies, making payments, among others, “according to Wikipedia.

The Evolution of Banks

The Evolution of Banks

To facilitate transportation they created the first coins, made of pieces of gold or silver, on which the weight and its value were marked. One can imagine the person walking with one, two, three kilos of gold in coins, besides being very dangerous to walk carrying such metal up and down, at that time also had thieves, especially on the roads, to get an idea remember those old Western movies that you’ve definitely watched. For safety, some merchants decided to keep it in a place where they knew how to take care of gold: the goldsmith himself.

With this practice, the goldsmith had to provide the merchant in exchange for the coins that were stored, a receipt stating the value of the deposit. Of possession of the receipt the merchant negotiated goods directly with him, because everyone knew that the receipt represented the gold or silver kept with some goldsmith.

People of the time as time went on, they gained more confidence in the receipt and began to use it more in their negotiations and business transactions. Here we already see the creation of paper money, which we know until now as money, money, dindin, bufunfa, makes me laugh etc.

Then you may also realize that the Goldsmith was who gave birth to the idea of ​​a bank we know today.

What is an online finance simulator?.

What is an online finance simulator?.

What is an online finance simulator?.

An online loan simulator is in other words a “calculator” so as to obtain an online quote in a few clicks. This type of simulator is available for a car loan, a personal loan, motorcycle loan, or a mortgage loan.

It is simply a matter of filling in the amount you would like to borrow, then filling in the number of monthly payments you want to make the repayment. Depending on the APR * (rate) of the bank you have chosen, the calculation of the monthly payment will be done and so you can know how much you have to repay per month for an amount to borrow.

The borrower will no longer have to move to his bank to apply for a loan. He can also think about the arguments he will present to receive confirmation of his work or projects.

Nevertheless, the interviews concerning the latter remain important and necessary for its finalization. To sum up, if you borrow, all you have to do is fill out and calculate the simulation of your online loan. Then, just wait until you are contacted to discuss it: it is very convenient for your travels and your daily steps.

Difference between installment loan & personal loan?.

Difference between installment loan & personal loan?.

“Installment Loan” and “Personal Loan” refer to the same thing, they are very common consumer credits. The term personal loan is the most commonly used and means that you do not have to justify the use of the amount requested. The only thing is that the bank will check (like any loan) your ability to repay but rest assured, these checks are not as pushy as a mortgage. Generally, it is a fixed monthly payment and the sum requested arrives a few days after the online application.

The different personal loans available in Belgium?.

The different personal loans available in Belgium?.

There are many other loans in Belgium that can help you in your daily life or in the realization of your projects and ideas. For example :

  • the wedding loan
  • the holiday loan
  • the study loan
  • or any type of loan for electronic object (tv, etc..).

Insurance for your personal loan?.

Insurance for your personal loan?.

An installment loan may be covered by insurance.

It is for example possible to guarantee the assumption of your monthly payments in case of loss of employment or in case of temporary incapacity.

But also the total repayment of your credit in case of total disability, disability or death.

Think about it when applying for your loan, insurance is far from useless today.

If I can not repay my personal loan?

If I can not repay my personal loan?

It can happen to have financial worries, unforeseen events that would disrupt a loan in progress.

If, for example, you have several credits in progress, you can think about the grouping of credits that can greatly help you.

This “help” often makes it possible to reduce the total amount of monthly payments to be repaid.

A payment facility can also be requested from the bank where you purchased the personal loan.

For more serious situations involving multiple lenders, you could resort to debt mediation or group debt settlement.

Difference between personal loan & “fast” loan?

Difference between personal loan & "fast" loan?

Not to be confused, a so-called “fast credit” is actually a cash reserve that works like a credit card, a line of credit. It is called fast credit because in a few minutes you can withdraw the amount you need.
A line of credit is not a loan, there are interests too, but the repayment must be done more quickly than with a personal loan.

Difference between personal loan & “fast” loan?

Difference between personal loan & "fast" loan?

Not to be confused, a so-called “fast credit” is actually a cash reserve that works like a credit card, a line of credit. It is called fast credit because in a few minutes you can withdraw the amount you need.
A line of credit is not a loan, there are interests too, but the repayment must be done more quickly than with a personal loan.