Most people now somehow face bank loans.
This can be a loan for the purchase of household appliances, as well as a loan of more serious amounts, for example, a mortgage or a loan for business development.
At the same time, it is necessary to choose the most suitable offer from many existing banking services on the market.
This can be done if you know how to calculate the interest and the amount that you ultimately have to pay.
You will need
- - a computer-
- - access to the Internet.
Select the loan offer you are interested in. Find information about the terms of the loan can be both in the offices of banks, and on their Internet sites. If you need a loan for one particular case, for example, to buy a car or to finance training, stop your focus on targeted loans. You will be limited in the ability to spend money, but the interest on such loans is usually lower.
Carefully study the conditions of your choiceCredit: term-the list of documents that must be given to the bank-restrictions on the age of the borrower and on his work experience. Calculate interest only on the loan that suits you in all parameters.
Calculate the interest on the loan that youHave chosen. There are two important indicators - the interest rate on the loan and the total cost of the loan (CPM). Their difference is that the CPM is calculated according to the formula of the Bank of Russia and should show a real overpayment for the loan taking into account all interests and commissions. Calculate the CPM, that is, the effective interest rate, you can use various online calculators.
But in some cases this indicatorIt is unreliable, for example, in the case of credit cards, the UCS can reach huge values because of the particular formula for calculating it. Therefore, in the case of a credit card, be guided by the interest rate specified by the bank, adding to it an annual commission for service and a commission for withdrawing cash, if you use this service.
Find the interest on the loan, calculate the amount,Due for the whole period. To do this, go to the site of your chosen bank, open the section "Credit calculator". Select the type of loan, enter the loan amount, interest rate, commission for the loan and other commissions in the appropriate fields, the loan term and type of payments - annuity (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 period. Based on these data, you will be able to conclude whether this loan proposal is right for you.