Loan calculator – calculate the cost of loans online


If you want to borrow money online and need a quick cash injection, you can use payday loans. The loan calculator will help you make decisions.

Loan calculator – check what the installment amount and the cost of the loan are

If you take a loan from a loan company (or take a loan from a bank), you use the services of the institution and you have to pay for them. Lending companies and banks want to make money by borrowing money.

Therefore, you usually give more than you borrow (there are some exceptions, but more on that later). It is not enough to divide the loan amount into the number of months or weeks – depending on the repayment frequency you choose.

An online loan calculator comes in handy to calculate installments or total loan costs (APRC).

What is the amount of installments and what fees do financial institutions add to them?

  • Equity – corresponds to the amount you borrow – without interest or commission. If, for example, you borrow PLN 1,200 for 12 months and you pay the liability in equal installments every month, the capital part of each monthly installment will be PLN 100.
  • Nominal interest rate – the interest rate is added to cash loans or borrowings. This indicator informs you about the percentage of liabilities incurred. According to the so-called anti-usury act, the nominal interest rate may not be higher than four times the currently applicable Lombard loan rate of the National Bank of Poland. Enter this value if you use the online loan interest calculator.
  • Loan company fees and commissions – these are the amounts that financial institutions impose on borrowers in exchange for granting a loan and performing specific activities. So you can meet, for example, with a preparation fee or commission. The commission may be charged at the beginning of the contract. The amount of these fees depends on many factors, e.g. it can be calculated as a percentage of the loan amount.
  • Other costs – it happens that other fees are added to the cost of the loan, e.g. paid insurance.

When comparing various loan or borrowing offers, pay attention to the APRC (Actual Annual Interest Rate). The interest rate alone will not tell you everything about the cost of a loan or credit.

APRC is an indicator expressed in percentage, which illustrates how much you will actually pay to a loan company or a bank for being able to borrow money. APRC consists of interest, commissions and additional costs associated with taking out the loan.

The formula for the APRC is complicated and requires knowledge and mathematical skills. Fortunately, to check the APRC loan, you can open an online APRC loan calculator.

It is a very simple tool to use, thanks to which you can easily check the cost of the commitment. In addition, every financial institution should provide you with full information on the total cost of the loan or credit.

How much does the loan cost? Loan calculator

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If you want to check what each installment of the committee will be, you can use the loan interest rate calculator, in other words, the installment calculator. The values ​​you need to write down are:

  • amount borrowed,
  • repayment period,
  • interest.

The loan interest calculator will show you the loan or loan repayment schedule. For example, if you borrow PLN 12,000 for 12 months and the interest rate is 5%, then thanks to the loan calculator you will find out what the fees will be.

If you want to calculate the APRC and find out what the actual cost of the loan is – including the commission you have to pay to the bank and other fees – you can use the APRC loan calculator. The data you will need to calculate the APRC is:

  • amount of credit,
  • repayment period,
  • interest,
  • commission,
  • other costs,
  • installment type (equal or decreasing).

On this basis, the loan calculator will calculate the actual annual interest rate of your loan and you will be able to go directly to find the best offer for you.

Do you always have to pay commission and interest on the loan? Loan calculator for non-bank companies

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If you take out a loan from a bank, you will most likely be charged fees such as commission or interest. The loan is a financial product reserved for banks – it is regulated by banking law.

The situation is different in the case of loans, which may also be granted by private loan companies or natural persons. The loan costs are always set by the lender.

Therefore, the price you have to pay for using the service of such a company can be much higher than at a bank. On the other hand, no one can prohibit the lender from giving up additional fees.

Despite this, many loan companies have, for example, payday loans for free. In these situations, the loan calculator will be superfluous because all fees will be abolished – including interest and commissions. The APRC will be 0%.

Free loans are usually granted to new customers. The loan amounts are usually low and the borrowing time is short.

If you are looking for a favorable offer, pay attention to companies that offer various types of promotions, low interest rates or commissions. Remember, however, to carefully check all parameters and terms of loans. The calculator will help you calculate installments and total costs of obligations.