Asaan Qarza — Loan Calculator

Thinking about a loan and wondering what it would cost you every month?

Asaan Qarza works it out in four taps. Tell it what the money is for, how much, for how long and what you earn — and it shows the monthly instalment, the total you would repay, and how much of that is cost rather than the amount you borrowed.

WHAT YOU CAN PLAN

— Personal loan — for a wedding, education, medical bills or home repairs
— Short-term advance — a small amount for a few weeks until salary
— Credit card — a revolving limit paid back in instalments
— Home finance — buying, building or renovating a house
— Car finance — a new or used car on monthly instalments
— Business finance — working capital or equipment for your shop

EVERY FIGURE, NOT JUST THE INSTALMENT

— The instalment and the total repayable over the full term
— How much of your income it would take, with a plain verdict
— Month-by-month schedule and a chart of the balance falling to zero
— What the same amount would cost over a shorter or a longer term

CONVENTIONAL AND ISLAMIC

Switch between conventional and Islamic financing and the app speaks the right language — profit instead of interest — while the instalment is worked out the same way a fixed-rate diminishing musharakah is.

PAY IT OFF SOONER

On the result screen there is a slider for paying a little extra every month. Drag it and two curves show how much sooner the balance reaches zero and how much you keep in interest.

SAVING UP INSTEAD

The second tab turns it around: pick what you are saving for — an emergency fund, a home down payment, education, a wedding, travel or a car — set the target and what you can put aside each month, and see when you get there. A second slider shows how much sooner the target arrives if you add a little more.

TOOLS

— Compare: two options one under the other, with the cheaper one marked and charted
— Affordability: the amount your income could comfortably carry, over several terms
— Rate cost: what half a percent is actually worth on your amount and term

A WORKED EXAMPLE, IN FULL

A personal loan of Rs 300,000 for 24 months at 28% per year on a reducing balance:

— Monthly instalment: Rs 16,467
— Total repayable: Rs 395,197
— Cost of the loan: Rs 95,197
— Processing fee, charged once at disbursement, typically 1–2%: Rs 3,000–6,000
— Late payment charge, if an instalment is missed: set by the lender and added on top

So the same Rs 300,000 comes back as roughly Rs 398,000–401,000 once the one-off fee is counted. A longer term lowers the monthly figure and raises this total; a shorter one does the opposite. The app shows both sides.

For digital personal loans from non-banking finance companies, SECP Circular 15 of 2023 caps the cumulative price of a loan at the principal amount — that ceiling covers processing charges, service and verification fees, handling charges, the profit or interest itself and late payment penalties together. Banks price separately, usually against KIBOR. Always ask the lender for the full figure before you sign.

WORKS OFFLINE

Every calculation runs on your phone. No account, no registration, no phone number and no documents.

IMPORTANT

Asaan Qarza is an independent calculator and information app. We are not a bank, a lender, a microfinance institution or a broker. We do not lend money, do not take applications, do not transfer funds and do not decide who gets credit. We do not guarantee that anyone will be approved or offered any particular rate.

Every figure in the app is an estimate based on what you enter. Real terms — the rate, the fees, the eligibility rules — are set by each bank or lender and will differ. Confirm the final numbers with the provider before you commit to anything.

Asaan Qarza is not affiliated with, endorsed by or connected to the State Bank of Pakistan, the Securities and Exchange Commission of Pakistan (secp.gov.pk) or any other government body, bank or financial institution. References to regulations are given for information only.