Loan calculator how to calculate a loan. Loan calculator online

An online loan calculator will help you calculate your monthly payment and allow you to choose the conditions that suit your financial capabilities. In addition, you can independently compare different types of loans available to you and choose the best option according to the payment schedule, size and type of payments, without resorting to the help of bank employees.

Two types of payments are available for calculation: annuity and differentiated. A differentiated payment is the repayment of equal amounts of the principal debt + decreasing interest accrued on the balance of the principal debt. As a result, with a differentiated payment, the amount of monthly payments is constantly decreasing. Annuity payment occurs in equal payments every month. It should be borne in mind that from the point of view of overpayment, differentiated payments are more beneficial for the borrower, and annuity payments for the bank. For short periods, the difference in overpayment is insignificant, but for a long term loan, the service will show a noticeable discrepancy. Especially if the interest rate is high.

A typical picture for long loans with the same payments is a minimal decrease in the principal debt at the beginning of use. In fact, the borrower pays only interest, and only a small part goes to repay the debt. The disproportion begins to disappear approximately by 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 fields below and click the "Calculate" button.

Loan calculator online

Loan calculator Vyberu.ru is your faithful assistant in the selection of lending programs in Moscow. Using our service, you can quickly find a loan online and estimate the likely costs. Preparing to apply for a loan will prevent you from being in a situation where delinquencies put too much pressure on your budget and threaten to ruin your relationship with the bank.

How does the calculator work?

The easiest way to calculate a loan is to use an online loan calculator. It applies your settings to all programs, creates a monthly fee schedule, and brings the best offers to the page that fit your needs.

To use the service:

• Enter the amount you need and select the loan currency;
• Set a repayment period convenient for you;
• Enter the interest rate you expect;
• And the expected date of issue;
• Choose a payment scheme - annuity (that is, equal shares) or differentiated payments;
• Are you going to close the loan as soon as possible? Add early repayments.

When you click on the "Calculate Costs" button, the loan calculator will calculate the loan taking into account your parameters and present a summary of it. It indicates the amount of monthly payments, the total amount and the amount of accrued interest. And in the graph, also presented on the page, you will see which part of the installment will go to the principal debt, and which part will go to the cost of the loan, as well as the balance of the debt after each payment.

Annuity or differentiated payment?

What are the repayment schemes and which one is more profitable? Which scheme is used depends on the size of your monthly installments, the total overpayment on the loan and what the payment consists of.

The annuity scheme implies that payments are calculated in equal installments for the entire duration of the contract. Thus, if you took a loan for 12 months, then every month you will pay the same amount. However, there is an important point here: at first, most of the contribution consists of interest accrued to you. That is, first you pay the bank for the service provided, and only then the cost of the loan.

Differentiated payment is calculated differently. Its size will change every day, and the shares of principal and interest in it are the same. The calculation is carried out in such a way that the body of the debt (that is, the amount you received) is divided by the number of months, and the cost of the service is charged on the balance and recalculated after each installment.

This scheme is considered the most beneficial for the borrower, because it turns out that the overpayment will be insignificant. But there is also a minus - at the beginning of the term, payments will be the largest, which means they can become a serious burden on the borrower's budget.

Which payment plan to choose? It only depends on how you evaluate your financial abilities. If your monthly income allows you to give large enough amounts to pay off your debt, and you want to save on interest, feel free to choose a bank with a differentiated calculation scheme. If your income does not allow this, it is better to overpay - this way you will reduce the risk of delays and penalties.

Our bank calculator will calculate the loan in one click. Just specify the parameters of the required 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 into principal and interest.

Bank calculator for calculating a consumer loan in cash

Before registering a consumer, 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 pay for the entire term? What is the percentage of overpayment on a future cash loan? These are common questions people are looking for answers online in 2019 and will be looking for in 2020, 2021 and beyond. Our experts have developed a universal loan calculator that works completely online, which 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 for both average individuals and pensioners. Previously, you can set 4 parameters in the form:

• Amount of money loan(200000, 500000, 800000 or whatever). By moving the slider, the maximum amount will be 15,000,000 rubles, but you can enter any arbitrary number.
• Loan terms, which can also be absolutely anything - a 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 - payment type. 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 smaller over time, then set the active tab "Reducing" (differentiated).

Having set these conditions, you just have to click on the "Calculate" button. Mathematical formulas in online mode will instantly provide you with data on the following parameters:

• The amount of the monthly payment, in rubles.
• The amount of the original loan.
• Full cost (initial + interest).
• Total overpayment (interest in rubles).
• Overpayment ratio, in percent.

Usually, after a preliminary calculation, visitors talk about the calculator on social networks, and also put a rating. According to it, other people see how convenient and useful our program is to use. And reviews help to form a common opinion about the functionality and convenience of the calculator.

Drawing up a payment schedule 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. The following data will be presented on a monthly basis:

• month number;
• exact date of payment;
• the amount 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;
• balance on the loan after payment of the payment.

Under the payment table there will be a final line in which the total cost and overpayment on the loan are accumulated. You will understand how much to pay for a loan according to the selected terms of borrowing money. The data presented will also be sufficient to evaluate prepayments.

Choosing the right 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. The convenient location of the information will help you submit applications to several banking institutions and, after receiving approval, take money from any bank branch.

We hope you found our bank calculator useful!

With the help of a loan calculator, you can independently, online, calculate regular loan payments and determine which repayment system will be optimal. Simple formulas help you understand how much money you send to pay off debt, and how much you pay for using borrowed funds as interest. You can check your results with a simple calculator.

An online loan calculator allows you to calculate annuity and differentiated payments. Annuity payments are made every month in equal parts, consisting of the loan amount and interest on it. With differentiated payments, monthly payments are consistently reduced, since interest is charged only on the outstanding part of the loan. Most commercial banks practice annuity, and Sberbank of Russia offers a differentiated form.

Differentiated payment

With a differentiated scheme, the amount of payments at the beginning is much larger than the final ones. The difference is explained by the fact that payments consist of two parts:

• fixed - the amount of debt repayment;
• descending - percent of the remaining amount.

The ever-decreasing second part reduces the amount of monthly payments. The formula by which you can determine the size of the fixed part is extremely simple: you need to divide the loan amount by the number of months of the loan:

OD = SC / KP

(OD - principal debt; SC - loan amount; CP - number of periods)

Further calculations are somewhat more complicated, since two approaches are used. Some banks assume that there are 12 months in a year and calculate the loan interest using the formula:

NP = OK × PS / 12

(NP - accrued interest, OK - loan balance, PS - annual interest rate)

Other banks prefer taking into account that there are 365 days in a year, considering this approach more accurate. Calculation formula:

NP \u003d OK × PS × NIM / 365

(NP - accrued interest; OK - loan balance; PS - interest rate for the year; NIM - number of days in a month (ranges from 28 to 31).

Calculation example

With a loan of 100,000 rubles taken for a year, the payment schedule according to the formula, taking into account 12 months and 20% per annum, is as follows:

Annuity payment

The amounts of payments under the classical system are repeated monthly, and can only be changed in case of early repayment of the loan or by agreement with the bank. As in the previous case, the installments consist of the principal repayment and interest on the loan. The ratio of these components changes over time: the interest part decreases, and the loan repayment amount increases. Thus, the interest on annuity payments is higher than on differentiated payments. This is explained by the fact that interest is charged on the balance of the amount, and it decreases slowly. The difference is especially noticeable if the loan is repaid ahead of schedule, because in the first installments a significant part of the amount falls on interest.

Formula for calculating payment:

AP = SC × PS / 1 − (1 + PS) - CP = SC × PS / 1 / (1 + PS) CP = SC (PS × (PS + PS / (1 + PS) CP - 1

(AP - annuity payment; PS - interest rate; SC - loan amount; KP - number of periods).

With monthly payments, the KP in this formula is the number of months for which the loan is scheduled, PS is 1/12 of the annual interest rate.

This formula is a classic, most banks use this particular scheme.

Calculation example

Consider the payment schedule for a loan taken for 12 months in the amount of 1,000 rubles. In some banks, the first loan payment is not an annuity, in this case the formula for calculating looks like this:

AP = SC × PS / 1 − (1 + PS) 1 − CP = SC × PS / 1 − 1 / (1 + PS) CP-1 = SC × (PS + PS / (1 + PS) CP-1 − one)

(AP - annuity payment; PS - interest rate; SC - initial loan amount; CP - number of periods).

The first period of payment of the loan may be full or incomplete, and in this case it is not an incremental one. If the period is incomplete, the down payment may be less than the annuity, but with high interest rates, a full period of 31 days and a long-term loan, it is quite possible that it will exceed the established amount.

Sometimes banks apply the formula with the first and last non-annuity payments:

AP = SC × PS/1 − (1 + PS) 2 − CP = SC × PS / 1 − 1 / (1 + PS) CP-2 = SC (PS + PS / (1 + PS) CP-2 − 1 )

When calculating according to this formula, the first and last installments are not annuity, that is, only interest must be paid in the first month, and balances in the last. Thus, banks try to adjust the amount of payments to an integer, as a result, there is a “tail” that goes to the last payment. In case of early repayment, the reduced amount of the balance also changes the size of the "tail", which can increase or decrease.

According to the last formula, the payment is the largest, and according to the classical first formula, the smallest. The difference becomes especially noticeable if the amount of payment remains minimal by the final settlement. This is important when repaying a loan early.

Which scheme is more profitable?

• With an annuity, the amount of payments does not change, and with a differentiated scheme it constantly decreases.
• A differentiated system involves larger payments at the beginning of loan repayment.
• For borrowers, an annuity is usually more convenient, since the amount of payments is clear and defined for the entire term of the loan.
• With a differentiated scheme, income should be 25% higher than with an annuity.
• The principal debt with an annuity decreases slowly, and the interest on the loan is high. Early repayment of the loan results in the loss of interest already paid.
• The differentiated system is not associated with the loss of interest, even if the loan is repaid ahead of schedule.
• Getting a loan under a differentiated scheme is much more difficult, as banks are trying to make sure that the borrower is solvent. A large income is needed so that the borrower has the opportunity to make increased payments at the beginning of the loan repayment.

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 the credit products presented on the domestic financial market, every Russian citizen is trying to save on interest. To find the most profitable loan in all respects, individuals need to know how to calculate monthly payments and interest rates. This can be done directly at the branch of a 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. To make calculations, subtract the smaller amount from the larger amount, 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 loan programs. In this case, we are talking about differentiated and annuity payments that borrowers are required to make once a month to the current account of their lender.

• 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?

In order for 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?

Everyone sooner or later begins to think about how to improve their 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. In order to choose the most favorable lending conditions for themselves, 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 the case of a 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 bank branch where the mortgage program is planned, 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 a fixed amount of funds once a month. In the event that the bank 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:

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, which will allow individuals to give a financial assessment of the selected loan program.

Save the article in 2 clicks:

Every Russian who decides to use an affordable banking product, for example, must evaluate his financial capabilities before applying. To do this, he needs to make calculations of 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.

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