A quick personal loan calculator helps you work out how much money you are entitled to borrow. You can find out how long it will take you to repay a loan and other calculations. You can use a personal loan calculator online.
What calculators are available?
These loan calculators are available to use online.
- Car finance calculator
- House insurance replacement calculator
- Home loan repayment calculator
- Outstanding home loan balance calculator
- Personal loans calculator
Car finance calculator
If you are thinking of buying a car but you are not sure how much can you afford to pay on car financing every month, you can use an online car finance calculator.
To help you determine how much you will need to repay on a vehicle on a monthly basis. You can also calculate how any additional payments you make will change the terms of repayment.
House insurance replacement calculator
The biggest single investment you will make is buying your home, so insuring it is important.
With an insurance calculator, you can work out a quick estimate of the costs of building replacements for your home.
Increasing a home loan repayment calculator
If you increase your monthly installments on your home loan you can decrease the time it will take you to repay it. And reduce the interest charged.
With this calculator, you can calculate how much you can save.
Home loan repayment calculator
Using the home loan amount and interest rate, this calculator allows you to find out what you basic monthly installment will be. If you are thinking of applying for a home loan.
New home transfer fees and loan costs
If you are taking out a new home loan. And you want to find out the registration costs, attorney fees and transfer costs. You can calculate these details so that you can budget for the costs involved when taking out a new home loan.
Outstanding home loan balance calculator
If you want an idea of your current financial position regarding your home loan, the outstanding home loan balance calculator will show you how much interest you have paid.
Also how much you have paid off from the capital amount, as well as the amount still owing.
What are the benefits of using an online personal loan calculator?
- It saves you time
- It is accessible and convenient
- You don’t need to waste time and money calling or visiting a consultant
- You can get an idea if a loan is suitable for your needs and budget
- Before approaching a consultant you already know what kind of lending terms will suit your needs
- You can work out how much you still need to pay on an existing loan
- You can work out how your loan terms will benefit from additional payments.
Common personal loans for which calculators are available include car loans, home equity lines of credit, mortgage loans, bonds, installment loans, credit card and payday loans.
Interest will also be charged on these loans. So this is where it can become confusing to work out the logistics of the loan yourself.
You can then use a personal loan calculator online to help you with these calculations.
What figures do I need to use a personal loan calculator?
- The amount you would like to borrow
- Term to repay your loan (in months) – a longer term means a lower monthly payment
- The expected interest rate (percent)
These figures will give you the approximate monthly payment amount.
Different calculators will need different figures. So gather as much information as you know about the loan payments.
In Conclusion
These are just a few of the range of personal loan calculators that can be sourced online to help you manage your finances.
Arm yourself with the figures you need, and do a simple online search to find yourself a convenient personal finance calculator.
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