Credit calculator - payment, overpayment and schedule

Why do you need a credit calculator

The calculator helps to quickly understand whether the budget will “pull”: you see a monthly payment, overpayment for the entire term and a detailed schedule for months. The tool is suitable for cash loan, car loan and refinancing. Go to the calculation: credit calculator .

How to calculate the payment - step -by -step instruction

enter the amount of the loan and term in months.

Indicate the rate in the annual .

Select the type of payment: annuity or differentiated .

set date of the first payment and, if necessary, " day of the month ".

Click “ Calculate ” - there will be a payment, overpayment, “Total for payment” and a schedule.

The schedule can be saved: click " Print/PDF " ".

Annuite and differentiated payment: What is the difference

• annuity - payment equal every month . At the beginning, the share is higher, to the end - lower. It is convenient to plan the budget.
• differentiated - the payment is reduced over time . The total overpayment is usually less, but the first months of the load is higher.

If the stability of the payment is important, they often choose an annuity. If you are ready for higher first payments for the sake of savings, see a differentiated scheme.

What affects overpayment

• bet . Every −1 pp. For a long time they save noticeably.
• term . The longer the loan, the greater the final overpayment.
• Early repayments . The most reduce overpayment in the first months.
• commission and insurance . Do not always get into account - lay separately.

Mini-example: how to read graph

In each line of the schedule - the date of payment, the total amount, from it: The main debt and interest , as well as the balance of the debt after payment. It’s normal that at the beginning there is more percent - the loan is “more expensive” in the first months.

To whom it is useful to refinance

If the current loan rate is above the market, refinancing may reduce the payment or reduce the term. Drive both scenarios in the calculator: “old Head” VS “New Stava” and compare the “ field of payment ”. With an equal payment, a time reduction is usually more profitable.

Practical Calculation Tips

• Check 2-3 times (for example, 36/48/60 months) - See where the compromise is between the payment and overpayment.
• Fix the convenient day of the month so as not to catch delays and penalties.
• Are you planning a partial repayment? Smift it: a reduction in the term is usually more profitable than just a decrease in payment.
• Save the PDF graph and apply to the application - this simplifies