Most people today anyway faced with bank loans.
It can be a loan for the purchase of household appliances, as well as more serious loan amounts, such as a mortgage or a loan for business development.
It is necessary to select the optimum suitable offer from the many that exist in the banking market.
This can be done if you know how to calculate interest and the amount that you will eventually have to pay.
You will need
- - a computer-
- - access to the Internet.
Please select your loan proposal. Find information about the lending conditions can be in bank branches and on their websites. If you need a loan for one specific case, for example, to buy a car or to finance training, stop its attention on targeted loans. You will be limited in their ability to spend money, but the interest on such loans is usually lower.
Carefully review the terms of your chosenCredit: srok- list of documents that need to provide banku- restrictions on age of the borrower and his length of service. Expect only the interest of the loan that is right for you in all respects.
Calculate the percentage of the loan that youselected. There are two important indicators - loan interest rate and effective interest rate (CPM). Their difference is that the CPM is calculated as the Bank of Russia and should show the actual overpayment on the loan with all interest and fees. Calculate the UCS, ie the effective interest rate, you can use the various online calculators.
But in some cases this figureunreliable, for example, in the case of credit cards can achieve huge CPM values for particular formula for its calculation. Therefore, in the case of credit card guided by these banks interest rate, adding to it the annual fee for the service and a fee for cash withdrawals if you use this service.
Finding a percentage of the loan, calculate the amountrepayable over the whole period. To do this, go to the website of the bank you selected, click the "Loan Calculator" section. Select the type of loan, fill in the appropriate fields the loan amount, interest rate, loan fees and other commissions, loan term, and type of payment - annuity (in equal amounts) or differentiated. After that, the system will give you the amount of monthly payments and the total amount to be repaid for the entire loan term. From this data you can conclude to your loan proposal fits.