Calculate your monthly loan payment online. How to calculate interest on a loan: formula. Calculation of interest on a loan: an example. Variable interest rate

credit system involves a monthly deposit of a certain amount into the bank account of the lender. To find out the interest, it is enough to use the “loan interest calculation online calculator”. In such applications, standard formulas are laid down to obtain an accurate calculated value. However, payers will not be superfluous to be able to independently calculate the rate.

How to calculate interest on a loan?

To begin with, it is worth understanding that the amount of funds that you will overpay to the bank (interest) depends on the speed of loan repayment. That is, the higher the monthly payment, the lower the percentage premium.

• The number of loans issued.
• The interest rate per year.
• Method of debt repayment (distinguish between differentiated and annuity options).
• The number of days for which the loan is issued.

All of the above factors are taken into account in free online calculator x, allowing you to quickly and accurately calculate payments. If you want to calculate the interest yourself, the choice of the formula will depend on the method by which the debt is repaid.

We calculate the amount of loan interest on a monthly differentiated payment

If you decide to calculate the interest on a loan, we recommend using an online loan calculator with interest, in which it is enough to enter all the requested data. It will be a little more difficult to calculate the rate and percentage on your own. Thus, the calculated payments include the following components:

• Accurately calculated amount, which was established by the bank, accrued to repay the loan in equal installments (funds are transferred every month).
• The interest amount accrued on the credit balance, that is, a constantly decreasing (in a favorable scenario) part.

To determine the exact amount of the standing payment, bank employees divide the funds taken on credit by the number of months during which repayment must occur. Calculate the interest on the loan allows quite simple formula.It looks like this:

Interest amount \u003d (OOZxPSxKDM) / (100x365)

Let's decipher the components of the formula:

OZO - the balance of the main loan.

PS - interest rate.

KDM is the number of days in a month.

The second part of the formula is the product of one hundred percent by the number of days in a year.

In principle, it is not difficult to calculate the level of overpayment using a differentiated formula. But if you want to save your own time, it is more rational to use an online loan calculator. The program calculates everything using an identical formula, while the final value will be more accurate.

How to calculate the amount of loan interest on a monthly annuity payment?

If the concept of a differentiated loan is recognizable by everyone, then the term "annuity" is not so common. Such a loan involves paying off the debt in equal installments. That is, you do not have to calculate how much money should be deposited into the account every month. Throughout the entire loan period, payments do not change. However, the rate itself and the percentage are calculated in a slightly different way, more complex. Again, to simplify the task, it is more rational to calculate through the loan interest calculator.

Monthly payment = (PSZxGPS/12)/(1-(1/(1+GPS/12)^(KP-1))

Now let's decipher the values ​​\u200b\u200bnecessary for calculating (by the way, a calculator is needed here in any case, otherwise you risk incorrectly calculating the amount):

• PSZ - the primary amount of the loan.
• GPS - annual percentage.
• KP - the planned number of payments on the loan.

Calculating the amount of interest on a loan using an online loan calculator

To calculate the amount of interest on a loan, you need to completely fill in the main fields of the loan calculator: loan amount, interest rate, loan period. To interest on this moment we classify fixed and non-fixed.

We refer to fixed interest rates. Yes, some banks provide the ability to use a variable credit rate, but we talked about this in another article. To non-fixed interest, we include commissions: “for early repayment of a loan”, “for cash withdrawal”, “for overdue payment on a loan” and others. Use the block early repayment if you have already made it. Add monthly and one-time commissions, this will allow you to calculate the entire amount of interest on the loan.

Press the button Calculate” and you will receive a full payment schedule, including the interest rate, commissions indicated earlier and early repayments of the loan. Notice the block common data”, it has a column “ Interest charges”- this will be the amount of interest on the loan. If you want to see in more detail in which of the months and how much interest you will pay on the loan, click on the button “ Load more ... number of lines”.

Print on a printer, save or send to e-mail payment schedule. This will allow you to compare the resulting chart with the chart provided by the bank. So you can easily understand about hidden fees and possible overpayments, which the bank kept silent about earlier.

Which method of repayment is more profitable: annuity or differentiated?

So, you can calculate interest and rates in two ways: using a special loan calculator or calculate it yourself using a formula. But one question still remains unsolved: which payment will be more profitable - differentiated or annuity?

An annuity loan is designed to pay the same amount every month. First, the interest on the loan is repaid, and then the “body” of the loan. A differentiated loan is calculated with the condition of faster repayment, but with higher payments at the beginning credit period and with a constant decrease in monthly payments. It makes no sense to take a differentiated loan if the loan period is 1 year, but if you take a loan for 10 years or more, then this type of loan will help save the family budget significantly.

In fact, both systems have advantages and disadvantages of calculations. You should choose on your own, starting from the real possibilities of payment. It is recommended to pre-calculate the amount of rates and interest for both options (using the "calculation of interest on a loan online calculator" or calculate it yourself using the above formulas) and, based on the calculated information received, select the appropriate method of repaying the loan.

On the modern market Loans are offered by many banks. You can get a loan for any purchase: from household appliances to an apartment. One of the main indicators in the loan agreement is the interest rate. It depends on the amount of the overpayment borrowed funds. The lower the interest rate, the lower, respectively, the amount of the overpayment will be. But how to calculate the interest on a loan? What formula the bank uses and how to profitably use the loan agreement, we will tell in this article.

What is a loan?

The loan agreement, as a rule, involves two main actors. This is a bank and a client. The client signs an agreement, from which it follows that the borrower asks him to finance on certain conditions.

Each loan agreement issued on the terms of payment, repayment and urgency. Payment means that the borrower banking organization gives out money at a certain percentage, on which the bank earns.

Repayment means that the client must repay the entire loan amount, including interest for actual use credit funds. And urgency includes certain payment terms, which are not recommended to be violated, as penalties will follow.

You can draw up a contract for goods, an apartment, or just take cash. In this regard, there are three main areas:

1. Car loans.
2. Mortgage.
3. Customer credit.

You can also distinguish between targeted and non-targeted loans, but all these are just general designations. The most important thing in lending is the rate on the loan, on the basis of which interest is calculated.

In order to be well versed in bank offers for loan agreements, it is important to be able to calculate the interest on the loan yourself. This will evaluate total cost lending and find the best deals. In order to understand how to calculate a loan on your own, you need to understand some banking terminology.

Loan debt

This is one of the basic concepts. Also, loan debt is often called the body of the loan or the amount of the principal debt. This is the part Money with which the bank finances the client. It should be borne in mind that the amount of the principal debt may include Additional services such as insurance and SMS informing.

The interest on the loan will depend on the loan amount. Since the annual interest rate on the loan is charged just on the amount of the principal debt.

Let's take an example. Let's say you took out a loan for 15,000 rubles, in addition - a life and health insurance service for 2,000 rubles and SMS informing for 800 rubles. The total loan amount will be 17,800 rubles. This is the amount on which the bank will charge interest.

But as the monthly payments are paid, the body of the loan will decrease, and interest will be charged on a smaller amount of the principal debt.

Interest rate

Loan interest is a fixed amount, depending on the body of the loan, which the bank offers to the client for servicing the loan agreement. V different types lending interest varies.

For mortgage agreements, the rate varies from 10 to 15%, which is significantly lower than for consumer loans (about 20-40%). This is due to the fact that the loan body in a mortgage is much higher than, for example, in lending for household appliances.

The monthly payment is the amount that the client agrees to pay on a monthly basis. It consists of the principal amount and interest on the loan agreement. Such a payment may be annuity, i.e. the same throughout the entire loan, with the exception of the most recent payment.

Or differentiated, in which a fixed amount of loan debt is set, but the payment itself decreases as the loan is repaid.

Having familiarized ourselves with the basic terminology, we will now be able to understand how to carry out loan calculations on our own. All banks use a single formula for calculating interest on a loan. It looks like this:

Proc. = Main debt * Proc. becoming * Fact. days / Days year where:

• Proc.– interest on lending for the current billing period or the current month;
• Main duty- the balance of the principal debt;
• Proc. becoming
• Fact. days- the actual number of days of using the loan or days in the current month;
• Days year is the total number of days in a year.

1. Financing amount: 18 200.
2. Insurance: 1,000.
3. SMS informing: 800.
4. Interest rate: 20%.
5. Monthly payment: 3,000.
6. Date of registration of the contract: May 1.

Based on the parameters, the total loan (principal amount) will be 20,000 rubles (18,200 + 1,000 + 800). On it, interest begins to be calculated in the first month. We substitute the values ​​​​in the formula and calculate the percentage for May:

Proc. \u003d 20,000 * 20% * 31 / 365 \u003d 339 rubles 73 kopecks. This is the amount of interest that will go into monthly payment for May. Payment must be made by June 1st. Let's build a repayment schedule table:

As can be seen from the table, the monthly payment includes interest for May, which is calculated from the original loan debt. At the same time, the body of the loan decreased. Calculating the value is quite simple: 20,000 - 2,660.27 = 17,339.73. Now the interest rate on loans and borrowings will be charged on a smaller amount of loan debt. We continue to calculate the annual interest on the loan:

Proc. \u003d 17,339.73 * 20% * 30 / 365 \u003d 285 rubles 04 kopecks. The amount of interest that will be included in the monthly payment for June. We pay, respectively, until July 1. We will extend our payment schedule.

The loan body continues to decrease: 17,339.73 – 2,714.96 = 14,624.77. What pattern can be seen? Every month more and more of the principal amount is included in the monthly payment and all less percent. Thus, loan agreements are structured in such a way that in the first months the bank will receive the greatest profit.

And closer to the end of the loan term, the amount of overpayment included in the monthly payment will be insignificant. And the borrower, in order to save money as much as possible, needs to pay off all the debt as soon as possible. This is just an example of how credit is calculated. It is not necessary to calculate everything on your own, banks offer services in the form that will build a similar payment schedule in a matter of seconds.

How to save on credit?

In this case, the service will be a loan, so additional terms, such as insurance or SMS messages, are optional, except for mortgage property insurance or auto loan collateral insurance. Therefore, without including additional services, you can reduce the body of the loan.

Not every Russian has the opportunity to make an expensive purchase. Many people who dream of buying new appliances or real estate are forced to take part in consumer or mortgage lending. Studying presented on the domestic financial market loan products, every Russian citizen is trying to save on interest. To find the most profitable loan in all respects, individuals need to know how to calculate monthly payments and interest rates. This can be done directly at the branch. financial institution or independently, using special formulas.

How to calculate the annual interest on a loan?

S = Sz * i * Kk / Kg, where

• S is the amount of interest;
• Sz - the amount of the loan (for example,);
• i – annual interest rate;
• Kk - the number of days allocated by the bank to repay the loan;
• Kg is the number of days in the current year.

How to calculate the amount of accrued interest, you can consider the following example:

• Loan term - 1 year.
• Annual interest rate (approximately the same as for those received from other banks) - 18.00%.
• S \u003d 300,000 * 18 * 365 / 365 \u003d 54,000 rubles will have to be paid by an individual for using credit funds.

To calculate the annual interest, customers of a financial institution need to carefully study the loan agreement. The agreement usually specifies not only the amount of the loan, but also what amount must be repaid at the end of the contract. For calculations, it follows from greater amount subtract the smaller one, then divide the result by the duration of the loan program, then multiply the final figure by 100%.

• An individual has issued a loan - 300,000 rubles.
• Loan term - 1 year.
• At the end of the term, you need to return - 354,000 rubles.
• Annual interest S \u003d (354,000 - 300,000): 1 * 100% \u003d 54,000 rubles.

There is another way to calculate. The borrower should sum up all monthly payments, after which add to the result additional payments(for example, additional fees, commissions, the amount of funds charged by the bank for servicing the loan program, etc.). After that, the result obtained must be divided by the term of the loan, and the final figure multiplied by 100%.

• An individual has issued a loan - 300,000 rubles.
• Loan term - 1 year.
• The annual interest rate is 18.00%.
• Additional payments - 2,500 rubles.
• The amount of the monthly payment is 4,500 rubles.
• Annual interest S \u003d (4,500 * 12 + 2,500) * 18.00% : 1 * 100% \u003d (54,000 + 2,500) : 1 * 100% \u003d 56,500 rubles.

Formula for calculating interest on a loan

Today, the banking sector uses two main schemes for calculating interest on loan programs. In this case, we are talking about differentiated and annuity payments that borrowers are required to make once a month to the current account of their lender.

• Sa - payment amount (annuity);
• Sk is the loan amount;
• t is the number of obligatory payments under the credit program.

How the calculations are carried out, you can consider an example:

• Monthly payment amount = (60,000 * (0.17/12)) : 1 - (1: (1: (1 + (0.17:12)))) = 850.00: 0.1553 = 5,472, 29 rubles.

When calculating the amount of monthly payments (differentiated), banks use a different formula:

• Sp - the amount of accrued interest;
• t is the number of days in the payment period;
• Sk is the amount of the loan balance;
• P is the interest rate on the loan (annual);
• Y is the number of days (calendar) in a year (366/365).

• An individual has issued a loan in the amount of 60,000 rubles.
• The annual interest rate is 17.00%.
• The term of the loan is 1 year (12 months).
• The loan amount, which is repayable every month, is 5,000 rubles.
• For January = (60,000 * 17 * 31) : (100 * 365) = 866.30.
• For February = (55,000 * 17 * 28) : (100 * 365) = 717.26 ...
• For December = (5,000 * 17 * 31) : (100 * 365) = 72.19.

How can individuals choose the most profitable interest accrual scheme?

In order for potential borrowers to choose the most profitable interest calculation scheme, a comparison of both methods should be made. If the emphasis is on the amount of the overpayment, then it will be more profitable to draw up loan programs that provide for differentiated monthly payments. It should be noted that this method also has a disadvantage. Unlike annuity payments, with a differentiated method of repaying a loan, the main credit burden will be placed on the first months of using the program.

If we consider mortgage loan products, then the annuity method of repayment will be extremely unprofitable for them, since in this case individuals will have to overpay very large sums Money.

How to calculate a mortgage for 15 years?

Every person sooner or later begins to think about how to improve his living conditions. If he has a sufficient amount of savings, he can purchase a more spacious living space. In the event that individuals do not have the opportunity to save even a third of the value of a property, the only option to improve living conditions is to participate in mortgage lending.

Currently, in the domestic financial market, a huge number of banks offer mortgage loans to Russians. To choose the most profitable terms lending, individuals should independently calculate how much interest they will have to pay, for example, for 15 years. When making calculations, potential borrowers should take into account that the cost of a mortgage loan includes:

• the amount of the loan;
• the amount of interest accrued for the entire period of using the loan;
• insurance payments;
• the cost of the appraiser's services;
• additional payments.

As a rule, mortgage loans can be repaid either by annuity or differentiated payments. It will be easier for potential borrowers to calculate the overpayment on a loan in the case of annuity payments. To do this, they need to use the formula:

X = (S*p) / (1-(1+p)^(1-m)), where:

• X - the amount of the monthly payment (annuity);
• S - the amount of the mortgage loan;
• p - 1/12 of the interest rate (annual);
• m is the term of the mortgage loan (in months), in this case 15 years = 180 months;
• ^ - in degree.

When calculating differentiated payments, it is customary to use the following formula:

• OSH * PrS * x / z - the monthly payment is determined.
• OSZ / y - debt reduction after making a monthly payment.

• OSZ - loan balance (calculation is carried out separately for each month);
• PrS - interest rate (general);
• y is the number of months left until full repayment loan
• x is the number of days in the billing month;
• z is the number of payment days (total) in a year.

Advice: in case of mortgage loan, which provides for differentiated payments, it is better for potential borrowers to use a loan calculator. This is due to the fact that the calculation is based on complex formula. You can also contact the branch of the bank where you plan to issue mortgage program, where the specialist will calculate the amount of the monthly payment and answer all the questions of interest to the client, for example, is it possible.

How to calculate the monthly loan payment?

Many Russian citizens Those who choose a loan program use a standard formula for calculating monthly payments. They take the amount of the loan as a basis, multiply it by the monthly interest rate, and multiply everything by the number of months of lending.

• Interest rate – 10.00%.
• First of all, the monthly interest rate is determined - 10.00% / 12 = 0.83.
• (100,000 x 0.83%) x 12 = 9,960.00 rubles must be returned monthly.

Advice: this formula can be applied in the case of annuity payments, in which the borrower will have to return once a month fixed amount funds. In the event that the bank issued a loan on the terms of differentiated payments, the amount of monthly payments will be calculated using a different formula. It is also worth noting that when paying with differentiated payments, individuals will have to return a smaller amount to the lender every subsequent month.

When calculating differentiated payments to individuals, it is necessary to take into account one important point. The interest rate will be charged each month on the loan amount reduced by the monthly payments already made.

• The loan amount is 100,000 rubles.
• The duration of the program is 1 year.
• Monthly interest rate 0.83%.
• Monthly payment (loan amount / number of months (payment periods)).

The amount of monthly payments (differentiated) will be calculated for each month:

The example shows that every month the body of the loan to be repaid will remain unchanged, and the amount of accrued interest will change downwards.

How to calculate the monthly loan payment through the program?

In this program, you need to fill in the empty windows in which you must enter data:

• loan amount;
• the currency in which it is planned to issue a loan product;
• the interest rate offered by the bank;
• duration of the loan program;
• type of payments (differentiated or annuity);
• start of loan payments.

After entering all the data, potential borrowers only need to click on the “calculate” button. Literally in a few seconds, information will be displayed on the monitor screen that will allow individuals to give financial assessment selected loan program.

Save the article in 2 clicks:

Every Russian who decides to take advantage of the available banking product, for example, must assess their financial capabilities before submitting an application. To do this, he needs to make calculations annual interest and monthly payments. Calculations will be possible only with the use of special formulas. Also individuals can use free loan calculators, which are located on the official websites of Russian banks. The calculations made will allow potential borrowers to understand whether they will be able to service the selected loan or whether they should look for a program with more affordable conditions.

In contact with

Loan calculator with early repayment

In chapter early repayment you can make a plan for such repayments. Some banks often impose penalties associated with the payment of such a payment. In the commission section, you can set the appropriate parameters and thereby determine exactly how profitable early repayment will actually be.

Loan Calculator Report in Excel

Credit calculator will calculate the total cost of the loan - a value calculated as a percentage, which takes into account commissions, related payments and the time of their payments. This makes it possible to compare loans with a variety of fees.

Accounting for inflation in loan payments

By setting the expected inflation parameters of the loan calculator, you can estimate the costs, taking into account the real purchasing power of money over time.

Dependence of the overpayment, the amount of the monthly payment on the parameters of the loan

Analysis of graphs of dependence of loan parameters allows you to choose the most comfortable conditions on credit. By clicking on the point of interest on the diagram, you can start a more detailed calculation for the parameter selected on the graph.

Annuity or differentiated payment

With annuity payments during the entire repayment period, the amount of monthly payments is the same, while in the initial period, debt repayment is slower, since accrued interest on the loan has to be paid. This type of loans is most common in Russia. The scheme with differentiated payments involves, at the initial stage, the payment of large monthly amounts, which will become smaller with each subsequent time. The debt is repaid in equal installments over the entire period, but the amount of accrued interest changes. The total amount of overpayments in absolute terms is greater with an annuity scheme, however, it is important not to forget about inflation, especially for long-term loans. In conditions of high inflation, this scheme becomes significantly more profitable, in the context of purchasing power money. Those. You will be able to purchase more goods and services for the entire period of loan repayments.

which can be issued under low rate, according to a simplified scheme and with a minimum of documents. The task of the client is to evaluate the profitability of the offers of banks.

Features of the online loan calculator

Our online calculator consumer credit- it convenient service, in which the user can make payments himself, without contacting the bank. Specifically, the calculator allows you to:

• Calculate full cost credit - taking into account the main debt and "dripping" interest;
• Take into account the calculation scheme used by the bank - annuity or differentiated payment;
• Include in the calculations all commissions and additional payments - one-time or regular;
• Pick up loan offers based on the parameters entered in the calculator;
• See information in the form of a chart and a summary payment schedule that can be saved and printed.

Thus, still on preparatory stage the client will calculate the financial burden in the calculator. This will help you compare several credit programs and choose the one that promises less risk. The calculator also saves time: now you do not need to contact each bank individually to request an approximate payment schedule.

What are the parameters for the calculation?

What does it rely on bank client when chooses a loan? on the terms of the loan. They are already taken into account by the site's online calculator, in which you need to enter the entire set of parameters - the loan amount, rate, term, payment scheme, etc. More details:

• Amount of credit. We are talking about the amount of funds that the client borrows from the bank (excluding interest, commissions and insurance). In 2020, the average amount of consumer loans ranges from 30 thousand to 5 million rubles. If you provide a bank with collateral, the amount grows significantly - up to several tens of millions of rubles.
• Interest rate. It is a fee for the use of borrowed funds, expressed as a percentage. It is charged in relation to the loan amount for a certain period (usually - a year). Today, the average rate is from 9 to 13% per annum. It is believed that this key condition any loan. In addition to market dynamics, the client's credit history, current financial burden and income affect the rate.
• Term. This is the time for which the loan is issued. Judging by the current offers of banks, it can be from six months to five years, but it is finally approved by the borrower himself. The longer the term, the lower the payment (and vice versa). The moment of issuance is also important - the day from which the loan period started. That's when the bank starts charging interest.
• Repayment method. Otherwise, it is called the payment accrual scheme, which exists in two versions - annuity and differentiated payments. Usually the scheme for a particular loan is determined by the bank, but sometimes the client himself chooses, based on which payment is more profitable for him.

A big plus of the calculator is that it takes into account all the parameters, while borrowers simplify the calculations. For example, the only guideline when choosing a loan is the rate, hence the advertising slogans of banks about “the most low percentages". In fact, overlap formally favorable rate additional payments may occur, which is why the online calculator is so necessary: ​​with it, users accurately determine the amount of the overpayment, bypassing bank tricks.

Annuity loan payment

In addition to commissions, there is another loan condition that often escapes the attention of borrowers - this is the order of payments. The site calculator calculates annuity payments on a loan on a par with differentiated payments (you can specify this by clicking on the appropriate button). In what way and why do banks calculate loans most often in this way?

An annuity assumes that the bank accrues equal payments over the entire term of the loan. At the same time, in the first half of the term, the loan debt is practically not repaid, since the borrower's money goes mainly to interest. Payments are small, but due to this, the amount of accrued interest increases, and, consequently, the profit of the bank grows.

Differentiated loan payment

With a differentiated payment, the loan debt is repaid evenly, starting from the first payments, and interest is charged on the actual balance. Therefore, each subsequent payment will be less than the previous one, which reduces the cost of the loan. In case of early repayment with this type of payment, the borrower can significantly save on the interest paid.