Credit Nevoi Personale: Rată

How much does a personal loan actually cost you? Enter the amount, period and interest, and the app shows you the monthly installment, interest cost and total amount to repay. Then add the loans you are already paying and see when you close the last one.

Everything is calculated on your phone: without internet, without account and without phone number.

WHAT YOU CAN CALCULATE

1. Loan rate. The amount, period and interest come in, and the monthly installment, interest and total come out. Suitable for a personal loan, a car loan or any loan with equal installments.
2. What installment can I pay. Based on your income and current installments, see what monthly installment still fits in your budget.
3. Compare two loans. Two sets of conditions put face to face, judged by the total cost, not just the installment.
4. Early repayment. How many months do you shorten the period by and how much interest do you save if you pay extra each month.
5. Degree of indebtedness. How much of your income goes to installments and how much is left.

REPAYMENT PLAN

Write down each loan you have now: the remaining balance, interest and monthly installment. The application builds the plan:

• how long it will take you to get rid of debt and how much interest you still have to pay
• what changes if you add an extra amount each month
• two payment orders — highest interest first or lowest balance first — with the cost of each
• your loans as numbered steps, with the time each ends

It helps you when deciding which loan to close first or when you check if refinancing several installments into one is cheaper.

The data you enter only remains on your phone. It is not sent anywhere.

EXAMPLE

20,000 lei for 36 months with an interest rate of 11.5 percent per year: rate of about 660 lei, total of about 23,743 lei. The same amount for 60 months: the rate drops to about 440 lei, but the total rises to about 26,391 lei. The longer period costs about 2,648 lei more.

Change any number and the result is recalculated on the spot.

MORE IN THE APP

• Price per unit: compare two packages and see which one is worth more
• Graphs for principal and interest and the repayment schedule with and without additional payments

WHO IT IS FOR

• You received the terms of a loan and want to check the rate and total yourself
• You pay several loans and are looking for a clear order in which to close them
• ​​You are thinking about early payments and want to see the savings
• You want to know how much of your income is already going towards debts

WHAT THE APP DOES NOT DO

• It does not grant loans or transfer money to your account
• It does not receive applications or documents
• It does not display lists of banks or IFNs and does not contact you with any
• It does not check or modify your history in the Credit Bureau
• It does not provide financial or legal advice

IMPORTANT INFORMATION

This application is a calculator. It is not a bank or non-bank financial institution and is not affiliated with any lender, credit bureau or public authority.

All results are estimates based on the figures entered. Interest is calculated on the remaining balance and the annual interest is divided by twelve months. Commissions, insurance and penalties are not included, so the APR in your contract will be higher. Always check the final cost in your own contract.

The application is free and does not contain ads.