Installment Loan Calculator
Calculate payments and costs for your installment loan. With effective annual interest rate and total burden.
Monthly Payment
351,59 €
Total Cost
16.876,23 €
Interest Cost
1.876,23 €
Eff. Annual Rate
5,90 %
Note: These calculations are for informational purposes only and do not replace professional tax or financial advice. All information without guarantee.
Frequently Asked Questions
What should I consider when comparing installment loans?
Always compare the effective annual interest rate, not the nominal rate. Check for hidden fees, flexible repayment options, and whether special repayments are allowed without penalty.
Can I repay an installment loan early?
Yes, since 2010 EU regulations allow early repayment of consumer loans. The maximum prepayment penalty is 1% of the remaining balance (or 0.5% if less than 12 months remain).
What is the Installment Loan Calculator?
The instalment loan calculator computes the monthly payment and total cost of a consumer loan. It helps compare different loan offers.
How does the Installment Loan Calculator work?
Enter the loan amount, term and interest rate. The calculator determines the monthly instalment, total interest and produces a repayment schedule. The effective annual rate is computed to enable comparison of different offers.
Key Data and Facts
The effective annual rate is the best comparison metric. Typical terms: 12-120 months. Credit-score-dependent rate: the actual rate depends on your SCHUFA score.
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