The repayment plan shows the breakdown of monthly installments in interest and principal. The calculation of a installment loan can be done quickly via a tariff calculator on the Internet. Just enter amount and term and get the available installment credits. The repayment plan calculator allows you to optimize the repayment of your installment loan online. Use the loan calculator to calculate your personal loan and find out which monthly installment or term is best for you.
Example of the loan calculator for installment loans
The examples show how you can use the loan calculator to calculate the installment loan to optimize your loan interest. Like any other lending business, these are linked to the interest on the loan. For installment loans, the individual repayment installments therefore contain an interest component and an amortization component. The amount of the tranches is the same over the entire term of the installment loan, so that the repayment portion increases from tranche to tranche and interest expense decreases.
Select a question to calculate the loan from the following list and calculate a possible script for a loan.
Calculate amortization plan
The simple repayment plan calculator creates a repayment plan when the loan amount, interest and repayment installments are known. The repayment plan shows the breakdown of monthly installments into interest and principal. Tip: Use our new, expanded online offer for calculations related to financing. The following calculator helps you in particular with the loan calculation and the amortization schedule: 1. Enter all data in the input fields.
By clicking on “Calculate” the repayment plan is created. Interest and principal payments are included in the calculation. Any costs associated with a credit application will not be counted.
Calculate installment credit – compare now!
In many cases, an installment loan can be a great relief. Lending makes larger purchases possible or can help bridge a temporary emergency situation. However, an installment loan can also be associated with some dangers. If you choose a long-term loan business where the monthly payment is very high, this can be a heavy credit burden.
You should therefore always calculate the installment credit before concluding the contract. This prevents the monthly rates from becoming too high. When calculating the installment credits, you can take full advantage of the credit benefits and compensate for side effects. When calculating a installment loan, one of the key aspects is the interest rate.
The nominal interest rate is the interest rate that the borrower has to pay for the loan transaction. In addition, many banks charge additional fees, for example for the granting of the loan, which are also converted into installments. As a result, in addition to the actual interest costs, there are additional expenses that are important for the credit comparison.
Therefore, the legislator has obliged the credit institutions to list the annual fee percentage. This includes all costs and is therefore a much cheaper way to compare different loans. In addition to the interest rates and fees set by the house bank, the duration and the loan amount also determine the sum of the installments.
At very high interest rates, it is possible to extend the repayment term. This will reduce the tranches but will have to be paid over a longer timeframe. If the monthly load is too high even for a very long time, only a reduction of the loan amount can help.
Here it is expedient to reduce the projects a little so that the installment payment is not detrimental. It is very user friendly, all you have to do is enter the desired maturities and the amount of the credit. If the interest rates are too high for you, you can change the terms or the loan amount within a few minutes.
Once the terms have been set, you can make loan specifications in the second step. For many providers, the interest rates depend on the individual customer credit rating. With such offers, it is not possible to calculate the exact cost of borrowing without specific information. After you have entered this information, you can find out about the individual amounts of the credit rating-dependent interest rates of various providers.
Now you can meaningfully compare all loans and find the cheapest provider easily and quickly.