Loan repayment calculator
Enter the loan amount, the annual interest rate you were quoted, and the term. See the real monthly payment and what the loan actually costs you in total, before you sign anything.
Figures appear here once all three fields are filled in.
How this is calculated: a standard reducing-balance
(amortizing) formula, the same method most banks and SACCOs use for
equal monthly instalments. Some digital lenders and SACCOs quote flat
rates instead, which produce a lower-looking rate for a similar real
cost, always ask a lender directly whether their quoted rate is flat
or reducing-balance before comparing offers. This is general
information, not financial advice.
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