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Loan calculator online – be your own bank manager!
Do you need to make up an amortization schedule or to compare loan terms offered by different banks? Now you can do it easily and accurately without the help of bank managers and financial advisors – just using this convenient loan calculator online. All you need is to specify the loan amount, term and interest rate per year in the respective fields. As soon as you enter the necessary figures into the form, the loan calculator will show your monthly payments, the total sum of interest you have to pay under the loan and the total amount of payments. The corresponding figures are shown rightward.
- Note that there are several options of filling the fields: you can either enter the figures right in the form or use the slider bar. Also, you can set loan terms in months or in years.
To make up an amortization schedule you need just to select the first payment day from the dropdown list. The loan calculator calculates the main parameters of your loan like the amount of monthly payments, the total sum of payments as well as how much of your money goes for repayment of both the principal and interest.
- Note that there is an option of choosing a detailed schedule that allows calculating the balance of principle and interest. This function enables you to effectively monitor the progress on the amortization. Also, you can choose whether to round up the figures in the schedule or not.
You can save all the calculations made with the loan calculator by printing the schedule right from your web browser so you will not have to waste time on repeated calculations. You are sure to appreciate this function as well as the currency independence of the calculator. There is no difference in which currency a loan is calculated and you do not even need to specify this parameter. Besides, the loan calculator shows an effective interest rate including the regular payments related to the conclusion and execution of the loan agreement.
- Note that the calculator is used to determine the monthly payments based on equal monthly installments (with the annuity factor of 0.05) and therefore it cannot be used for calculation of graduated payment mortgages and loans.
This loan calc features:
- Intuitive interface
- Detailed calculations according to the loan amount, duration and interest rate
- Printable amortization schedule
- Currency independence
- Convenient options allowing to customize the calculations