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How to use the loan calculator
This online loan calculator helps you estimate your monthly payments, total repayment amount and interest before applying for a loan. To run a simulation, enter the amount you want to borrow, choose the repayment term and adjust the interest rate according to the offer or estimate you want to compare.
- Enter the loan amount: add the amount of money you would like to borrow. The simulator will use this value as the basis for the calculation.
- Choose the number of installments: adjust the repayment period to see how a shorter or longer term can affect the estimated payment.
- Set the interest rate: use the interest rate shown by a bank, lender or financial institution, or adjust the rate to compare different loan scenarios.
- Click “See result”: after filling in the fields, click the button to unlock the full simulation result.
The result will show an estimated payment amount, the total repayment value and the total interest over the selected period. You can change the loan amount, repayment term or interest rate at any time to compare different options.
This loan simulation is for informational purposes only. The final loan cost may vary depending on credit analysis, fees, taxes, insurance, lender rules and the conditions offered by each financial institution.
