Loan Calculator & Debt Planner

Loan calculator and debt planner in one app. Work out the monthly instalment, the total interest and the total repayment on any loan, then build a plan that shows when you will be debt-free.

Everything is calculated on your phone. It works offline, with no account and no phone number.

FIVE CALCULATORS

— Loan calculator: enter the amount, the term and the interest rate and see the monthly instalment, the total interest and the total repayment. Works as a personal loan calculator, a car loan calculator or for any other instalment loan.
— What payment can I afford: enter your income and your current instalments and see what monthly payment still fits your budget.
— Compare two loans: put two options side by side and see which one costs less in total, not only per month.
— Early repayment: see how an extra payment each month shortens the term and how much interest it saves.
— Debt load: see what share of your income goes to instalments and how much is left.

REPAYMENT PLAN

Add the loans you already have: what you still owe, the interest rate and the monthly payment. The app shows:

— the date you will be debt-free and the interest you still have to pay
— what happens if you add an extra amount each month
— two ways to order the loans: highest interest rate first or smallest balance first, with the cost of each
— your loans as numbered steps, with the time each one takes to finish

Use it to check a debt consolidation plan before you commit to it, or to see what paying one loan off early does to the rest.

Your loans are saved on the phone only. Nothing is uploaded.

EXAMPLE

R20 000 over 36 months at 28 percent a year: the instalment is around R827 and the total repayment around R29 780. Stretch the same loan to 60 months and the instalment drops to around R623, but the total climbs to around R37 360. The longer term costs about R7 580 more.

Change any number and the result updates at once.

ALSO INSIDE

— Price per unit: compare two pack sizes and see which is better value
— Charts for principal and interest, and a repayment schedule with and without extra payments

WHO IT IS FOR

— You have a loan quote and want to check the instalment and the total yourself
— You have several loans and want one clear order to pay them off
— You are thinking about paying extra and want to see what it saves
— You want to know how much of your income is already going to debt

WHAT THIS APP DOES NOT DO

— It does not lend money and does not pay anything into your account
— It does not take applications or documents
— It does not show lender listings and does not connect you to a lender
— It does not check or change your credit record
— It does not give financial or legal advice

IMPORTANT INFORMATION

This app is a calculator. It is not a bank, a credit provider or a debt counsellor, and it is not connected to any lender, credit bureau or government body.

All figures are estimates based on the numbers you enter. They do not include initiation fees, service fees or insurance, which your credit provider sets. Always check the final cost in your own credit agreement.

The app is free and shows ads.