These calculations and illustrations are intended to be insightful in demonstrating the repayment cost and term for a typical bank-loan.
The repayment value and/or period calculations used here are based on the Industry standard for loans, but may differ slightly from most Banks' calculators as Banks often have small adjustment factors to make their offering more attractive or perhaps to cover a higher cost when offering a better service. Shop around!
If a "Voluntary Monthly Payment" is specified, the adjusted repayment period will be calculated to best fit the payment. This overrides the preselected Period. If no Loan Period or Voluntary Payment is specified, the maximum period will be selected automatically.
Fees are assumed to already include VAT.
Depletion of outstanding debt value over time.
Hover the mouse over any charted points to reveal the calculated values at the specific points in time. Click any Legend to Show/Hide its graph.
Payment: The payment made by you (or to you where negative) at any specific Month.
Total Paid: The total of the monthly installments paid up to this point - this is basically the opposite of the loan capital balance.
Loan Capital Balance: The total outstanding amount that remains to be paid if you simply continue paying the indicated monthly installment until the end of the loan period.
Early Settlement Value: The total amount you need to pay in a specific Month to fully settle your loan. Note that in a real loan this figure may be higher since lenders often include early-settlement penalty clauses in loans to protect their investment. Pay attention when signing agreements!
Total Cost: The accumulation of costs (fees and interest) over time to illustrate how a longer loan period with easier payments costs significantly more in the end.
Showing data for Loan repayment amounts with depletion of outstanding value over time.
This calculation is for illustration purposes only.
RIFIN Group and its directors, officers and employees shall not be responsible and disclaim liability for any loss, damage (whether direct, indirect, special or consequential) and/or expense of any nature whatsoever, which may be suffered because of or which may be attributable, directly or indirectly, to the use of, or reliance upon any information provided through this calculation.
This calculation and illustrations do not (and are not intended to) constitute personal financial advice. For sound financial advice, please contact us directly (see link below or click here).