Consumer Loan Calculator
Enter loan amount, rate, term and optional extra repayments to get the monthly payment, total cost and interest, plus a 12-month amortization table.
Monthly installment
€438.71
Total costs
€10,529.13
Total interest
€529.13
Note: These calculations are for informational purposes only and do not replace professional tax or financial advice. All information without guarantee.
FAQ
Frequently Asked Questions
What is the difference between nominal and effective interest rate?
The nominal rate is the pure interest rate. The effective APR (EJZ) includes all costs and is always used for comparison. German law requires the APR to be stated.
What is the maximum monthly payment I should aim for?
Rule of thumb: the loan payment should be max. 10–15 % of net income. At 2,000 EUR net that is 200–300 EUR. Higher payments are possible but reduce financial flexibility significantly.
Are extra repayments worth it?
Yes – they reduce the outstanding balance directly and thus future interest. Many banks allow up to 5–10 % of the loan amount annually without penalty. An extra payment of 1,000 EUR can shorten the term by months.
When can I repay a loan early?
You can repay a consumer instalment loan early at any time, in full or in part (§ 500(2) BGB) — whatever the loan amount. Only if the borrowing rate is fixed may the bank charge an early repayment fee: max. 1 % of the amount repaid early, 0.5 % if the remaining term is one year or less, and never more than the interest you would still have paid (§ 502 BGB). Mortgage loans with a fixed rate can be cancelled after 10 years with 6 months notice (§ 489 BGB).
Guide
What is the Consumer Loan Calculator?
The consumer loan calculator computes your monthly instalment, total cost and effective annual interest rate for personal loans. It shows transparently what a loan really costs.
How does the Consumer Loan Calculator work?
Enter loan amount, term and nominal interest rate. The calculator uses the annuity formula to compute the monthly payment, total interest and effective APR. An optional amortisation schedule shows how debt and interest evolve month by month.
Key Data and Facts
Average loan interest rates Germany 2026: personal loan (36 months) approx. 6–9 % APR, new-business average 9.0 % (Bundesbank, 08/2026). Overdraft: average 9.5 % (Bundesbank, 08/2026); unarranged overdrafts cost considerably more. Car loan: approx. 4–7 %. Statutory right of withdrawal: 14 days. Early repayments: usually up to 5–10 % per year without penalty.
Step-by-Step Guide
Step-by-step: 1. Determine actual borrowing need. 2. Choose term: shorter = higher payment, less interest; longer = lower payment, more interest. 3. Compare effective APR, not nominal rate. 4. Calculate monthly payment: instalment = K × (q^n × (q−1)) / (q^n − 1). 5. Check total cost. 6. Plan extra repayments.
Calculation Example
Loan 10,000 EUR, 48 months, borrowing rate 6.9 % p.a.: monthly payment 239.00 EUR. Total repayment 11,471.94 EUR. Interest cost 1,471.94 EUR.
Sources
Official sources
Calculations are based on applicable German laws and official data:
- Deutsche Bundesbank
- Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
- Statistisches Bundesamt (Destatis)
Full methodology at Methodology.
Reviewed by Konstantin Iakovlev · Last updated:
Finance
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