Sika Bosea - Loan Calculator

Sika Bosea is a free loan calculator made for Ghana. Enter the amount, the term and the rate you were quoted, and see what the money actually costs you: the monthly payment, the total you pay back and the full schedule month by month.

WHAT IT DOES

- Monthly payment on any amount in cedis, over any term from one month to twenty years.
- Total cost split into the amount you borrowed and the interest on top of it.
- A schedule you can scroll through month by month, with the balance still owed.
- An early repayment slider: add a little extra every month and see how much sooner the loan ends and how much interest you never pay.
- A rate slider, so the calculation matches the rate you were actually quoted.
- Load on your budget: enter your monthly income and see what share of it the payment takes.

FLAT RATE OR REDUCING BALANCE

In Ghana both are quoted and they are not the same thing. A bank quotes a rate on the reducing balance, so interest is charged only on what you still owe. Microfinance companies, savings groups and phone loans often quote a flat rate, charged on the full amount for the whole term even after you have paid most of it back. Sika Bosea calculates both and shows the difference in cedis. A separate tool turns a flat monthly rate into the yearly rate on a reducing balance, so two quotes given differently can finally be compared.

BUILT FOR HOW BORROWING WORKS HERE

Pick what you are planning and the amounts, terms and typical rates are already set for Ghana: a personal loan for school fees, rent advance or medical bills, a salary advance until payday, stock or working capital for a business, a susu or group contribution, a farming loan for fertiliser and seed, and an okada or tricycle paid for monthly.

SAVINGS, NOT ONLY DEBT

The savings planner runs the same arithmetic from the other side: set a goal - an emergency fund, school fees, a plot, business capital, a wedding, transport - say what you can put aside every month, and see when you get there and what it takes to get there sooner.

TOOLS

- Compare two options side by side and see which costs less over the whole term.
- How much can I afford: from your income, the amount you can carry at a sane payment.
- What the rate really costs: the same loan at different rates, in cedis.
- Flat to reducing balance: the real yearly rate behind a monthly flat quote.

PRIVACY

Nothing you enter leaves your phone. The amount, the term and your income are used for the calculation on the screen and are not sent anywhere. The app asks for no permissions beyond internet access and does not read your contacts, your messages, your photos or your files.

PLEASE NOTE

Sika Bosea is an independent calculator, not a lender and not a broker. It does not lend money, does not take applications, does not disburse funds and is not connected to any bank, microfinance company or mobile money operator.

Lenders and microfinance institutions in Ghana are licensed and supervised by the Bank of Ghana, and the official register is published on its own website: https://www.bog.gov.gh The developer of this app is not a government body and does not represent one.

The figures are estimates based on what you enter. Every lender has its own rates, fees and conditions, so confirm the final numbers with them before you commit.