Loan calculator online to calculate interest. Loan calculator online

An online loan calculator will help you calculate your monthly payment and allow you to independently choose the terms that meet your financial capabilities. In addition, you can independently compare the different types of loans available to you and choose the best option in terms of payment schedule, size and type of payments, without 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 differentiated payments, the amount of monthly payments is constantly reduced. Annuity payment occurs in equal payments every month. It should be taken into account that, from the point of view of overpayment, differentiated payments are more profitable for the borrower, and annuity payments are more profitable for the bank. For short periods the difference in overpayment is insignificant, but for a long loan period the service will show a noticeable discrepancy. Especially if the interest rate is high.

A typical picture for long-term loans with equal payments is a minimal reduction in the principal debt at the beginning of use. In fact, the borrower only pays interest, and only a small part goes towards repaying the debt. The imbalance begins to disappear approximately halfway through the loan term. The calculator will be useful for calculating loans to both individuals and legal entities.

If you do not know what the maximum amount is available for your salary, then use the income-based loan calculator. If you already have a loan and decide to repay it early, then the early repayment calculator will be useful to you.

To start calculating, fill out the form fields below and click the "Calculate" button.

Online loan calculator

Using 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 allocate to pay off debt, and how much you pay for using borrowed funds as interest. You can check your results using a regular calculator.

The 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 portion 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;
• decreasing - percentage of the remaining amount.

The constantly decreasing second part reduces the size 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 = SK/KP

(OD – principal debt; SC – loan amount; KP – 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 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 the fact that there are 365 days in a year, considering this approach to be more accurate. Calculation formula:

NP = OK × PS × CHDM / 365

(NP – accrued interest; OK – loan balance; PS – interest rate for the year; NDM – 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

Payment amounts under the classical system are repeated monthly, and can only be changed if the loan is repaid early or by agreement with the bank. As in the previous case, contributions consist of the principal repayment amount and interest on the loan. The ratio of these components changes over time: the interest part decreases, and the loan repayment amount increases. Thus, interest on annuity payments turns out to be 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 payments a significant part of the amount is accounted for by interest.

Formula for calculating payment:

AP = SK × PS / 1 − (1 + PS) − KP = SK × PS / 1 / (1 + PS) KP = SK (PS × (PS + PS / (1 + PS) KP − 1

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

With monthly payments 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 classic; most banks use this exact scheme.

Calculation example

Let's 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 annuity; in this case, the calculation formula looks like this:

AP = SK × PS / 1 − (1 + PS) 1 − KP = SK × PS / 1 − 1 / (1 + PS) KP-1 = SK × (PS + PS / (1 + PS) KP-1 − 1)

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

The first period of payment of the loan may be full or incomplete, and in this case it is not annuity. 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 use a formula with the first and last non-annuity payments:

AP = SK × PS/1 − (1 + PS) 2 − KP = SK × PS / 1 − 1 / (1 + PS) KP-2 = SK (PS + PS / (1 + PS) KP-2 − 1 )

When calculating using this formula, the first and last installments are not annuity, that is, in the first month you only need to pay interest, and in the last month - the balance. Thus, banks try to adjust the amount of payments to a whole number, as a result, a “tail” remains, moving to the last payment. With early repayment, the reduced 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 payment is the smallest. The difference becomes especially noticeable if the payment amount remains minimal at the final settlement. This is important when repaying a loan early.

Which scheme is more profitable?

• With an annuity, the size of payments does not change, but 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 determined for the entire loan term.
• With a differentiated scheme, income should be 25% higher than with an annuity.
• The principal debt in 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 loss of interest, even if the loan is repaid ahead of schedule.
• It is much more difficult to obtain a loan under a differentiated scheme, since banks try to ensure the solvency of the person being financed. A large income is needed so that the borrower has the opportunity to make higher payments at the beginning of the loan repayment.

The loan calculator calculates monthly payments, interest on the loan, payments for commissions and insurance. A payment schedule is drawn up indicating the amounts of payments taken into account. The loan calculator can calculate payments using the annuity or differentiated method. The results on the right display the amount of the monthly payment, overpayment of interest, overpayment taking into account commissions, and the total cost of the loan.

Pay special attention to the Effective Interest Rate, which, taking into account additional fees and insurance, may be significantly higher than that offered in the loan agreement.

Loan calculator settings

Calculation method
It is possible to calculate the loan and payments, both by the Loan Amount and by the Purchase Cost and the down payment. When calculating a loan based on the Purchase Cost, the loan amount is first calculated, and no interest or fees are charged on the down payment.

Selecting a loan currency
The loan calculator can calculate a loan online in one of 3 currencies: rubles, dollars or euros.

Credit term
By default, the loan term must be entered in months. You can enter the term in years, but you must change the loan term type.

Interest rate
Traditionally, the interest rate is calculated on a percentage/year basis. By changing the settings of the loan calculator, you can calculate payments based on the monthly interest rate.

Payment type
Typically, banks use the annuity method for calculating loan payments (equal monthly payments) to calculate the loan. However, the second option is also possible - differentiated payments (accrual of interest on the balance). Using the drop-down menu, select the type of payment calculation you need. For more detailed information about the types and methods of calculation, see the sections annuity calculator or differentiated payment calculator.

Additional settings

Commission upon issue
One of the conditions for issuing a loan by many banks is the payment of a Commission when issuing or for issuing a loan. A loan calculator can factor such a fee into the total cost of the loan and, if necessary, break the fee into monthly payments.

Monthly commission
Taken into account in the total cost of the loan and in monthly payments

Insurance
Credit insurance is an additional monthly fee option. As a rule, banks do not take insurance into account in the monthly payment schedule and charge a similar commission based on an additional agreement. However, the total cost of the loan received may increase significantly. The online loan calculator takes into account the monthly insurance in the total cost of the loan and in the amount of the monthly payment.

Last installment
One of the loan options is a loan with a final payment. When calculating such a loan, the monthly payment is lower due to a reduction in payments on the principal debt. However, interest on the last installment is also accrued and taken into account in monthly payments.

date of issue
By default, the current date is used, but you can choose any convenient one. The function is convenient when working with a payment schedule.

First payment date
Initially, the current date is used; for the convenience of working with the payment schedule, select the required one.

Not every Russian has the opportunity to make an expensive purchase. Many people who dream of buying new household 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 tries to save on interest. To choose 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 a branch of a financial institution or independently using special formulas.

How to calculate annual interest on a loan?

S = Sз * i * Kк / Kg, Where

• S – amount of interest;
• Sз – loan amount (for example, );
• i – annual interest rate;
• Kk – the number of days allocated by the bank to repay the loan;
• Kg – number of days in the current year.

How to calculate the amount of accrued interest can be seen using an example:

• Loan term – 1 year.
• The annual interest rate (about the same as that received from other banks) is 18.00%.
• S = 300,000 * 18 * 365 / 365 = 54,000 rubles an individual will have to pay for using credit funds.

To calculate annual interest, clients of a financial institution need to carefully study the loan agreement. The agreement usually specifies not only the amount of the loan issued, but also how much must be repaid at the end of the agreement. To carry out calculations, subtract the smaller amount from the larger amount, then divide the resulting result by the duration of the loan program, then multiply the final figure by 100%.

• An individual took out a loan for 300,000 rubles.
• Loan term – 1 year.
• At the end of the term, you need to return 354,000 rubles.
• Annual interest S = (354,000 – 300,000): 1 * 100% = 54,000 rubles.

You can carry out the calculation in one more way. 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 this, the result must be divided by the term of the loan, and the final figure multiplied by 100%.

• An individual took out a loan for 300,000 rubles.
• Loan term – 1 year.
• Annual interest rate – 18.00%.
• Additional payments – 2,500 rubles.
• The monthly payment amount is 4,500 rubles.
• Annual interest S = (4,500 * 12 + 2,500) * 18.00%: 1 * 100% = (54,000 + 2,500): 1 * 100% = 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, which borrowers are required to make once a month to the bank account of their lender.

• Sa – payment amount (annuity);
• Sk – loan amount;
• t is the number of mandatory payments under the loan program.

How calculations are carried out can be seen using the following 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 – amount of accrued interest;
• t – number of days in the payment period;
• Sk – loan balance amount;
• P – loan interest rate (annual);
• Y – number of days (calendar) in a year (366/365).

• An individual took out a loan in the amount of 60,000 rubles.
• Annual interest rate – 17.00%.
• The loan term 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 calculation scheme?

In order for potential borrowers to choose the most profitable interest calculation scheme, both methods should be compared. If you focus on the amount of overpayment, then it will be more profitable to apply for credit programs that provide differentiated monthly payments. It is worth noting that this method also has a drawback. Unlike annuity payments, with a differentiated method of loan repayment, the main credit load will be made for 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 their living conditions. If he has enough savings, he can purchase a larger living space. In cases where individuals do not have the opportunity to save up even a third of the cost of a property, the only option to improve their living conditions is to participate in mortgage lending.

Currently, on the domestic financial market, a huge number of banks offer mortgage loans to Russians. In order to choose the most favorable loan terms 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 issued;
• the amount of interest accrued over the entire period of using the loan;
• insurance payments;
• cost of appraiser services;
• additional payments.

As a rule, mortgage loans can be repaid either by annuity or graduated payments. It will be easier for potential borrowers to calculate the overpayment on the 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 – size of the monthly payment (annuity);
• S - mortgage loan amount;
• p – 1/12 of the interest rate (annual);
• m – term of the mortgage loan (in months), in this case 15 years = 180 months;
• ^ - to the degree.

When calculating differentiated payments, it is customary to use the following formula:

• ОСХ*ПрС*х/z – the monthly payment is determined.
• OZZ/y – reduction of debt after making a monthly payment.

• OSZ – loan balance (calculation is carried out separately for each month);
• PrS – interest rate (total);
• y – the number of months remaining until the loan is fully repaid;
• x – number of days in the billing month;
• z – number of payment days (total) per year.

Advice: In the case of a mortgage loan that 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 you plan to apply for a mortgage program, where a specialist will calculate the amount of the monthly payment and answer all the client’s questions, 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 loan amount 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 repaid monthly.

Advice: this formula can be applied in the case of annuity payments, in which the borrower will have to repay a fixed amount of funds once a month. In the case when 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 each subsequent month.

When calculating differentiated payments to individuals, one important point must be taken into account. The interest rate will be calculated 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 downward.

How to calculate the monthly loan payment using the program?

In this program you need to fill in the empty windows into which you should enter data:

• loan amount;
• the currency in which the loan product is planned to be issued;
• interest rate offered by the bank;
• validity period 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. In just a few seconds, information will be displayed on the monitor screen that will allow individuals to give a financial assessment of the selected credit program.

Save the article in 2 clicks:

Every Russian who decides to use an available banking product, for example, must assess his financial capabilities before submitting an application. To do this, he needs to make calculations of annual interest and monthly payments. Calculations will only be possible using special formulas. Individuals can also use free loan calculators, which are located on the official websites of Russian banks. The calculations performed will allow potential borrowers to understand whether they can service the chosen loan or whether they should look for a program with more affordable conditions.

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Loan calculator with early repayment

In the early repayment section, you can create a plan for such repayments. Some banks often impose penalties associated with the payment of such a payment. In the commission section, you can set the appropriate parameters and thereby determine exactly how profitable early repayment will actually be.

Loan calculator report in Excel

The loan calculator will calculate the total cost of the loan - a value calculated as a percentage, which takes into account commissions, associated payments and the time of their payments. This makes it possible to compare loans with different fees.

Accounting for inflation in loan payments

By setting the parameters of the expected inflation of the loan calculator, you can estimate the costs, taking into account the real purchasing power of money over time.

Dependence of overpayment and monthly payment amount on loan parameters

Analysis of graphs of dependence of loan parameters allows you to select the most comfortable loan conditions. By clicking on the point of interest on the chart, you can start a more detailed calculation for the parameter selected on the chart.

Annuity or differentiated payment

With annuity payments, the amount of monthly payments is the same throughout the entire repayment period, while in the initial period, debt repayment is slower, since you have to pay accrued interest on the loan. This type of loans is most common in Russia. A scheme with differentiated payments involves at the initial stage the payment of large monthly amounts, which will become smaller with each subsequent time. The debt is repaid in equal installments over the entire term, but the amount of accrued interest varies. The total amount of overpayments in absolute terms is greater with the annuity scheme, however, it is important not to forget about inflation, especially for long-term loans. In conditions of high inflation, this scheme becomes significantly more profitable in the context of the purchasing power of money. Those. You will be able to purchase more goods and services over the entire loan repayment period.