Personal loan calculator
The advertised nominal rate is not what you pay. The APR includes the arrangement fee and is the only figure two loans can be compared on.
- Approximate APR
- 7.7%
- Arrangement fee
- €150.00
- Total interest
- €2,821.04
- Total repaid
- €17,971.04
This is a simulation based on what you typed. It does not replace your books or your advisor.
Take it into your Fider accountHow to use it
- Enter the amount lent, not what lands in your account after the fee.
- Put in the nominal rate printed on the offer.
- Adjust the term: every extra year lowers the instalment and raises the interest.
- Compare the APR, not the instalment, between two offers.
Nominal rate and APR are not the same
The nominal rate is the interest on the loan. The APR folds in the arrangement fee and the effect of paying month by month, so it is always higher. Two loans with the same nominal rate can carry very different APRs.
When a loan is expensive
Above twice the Bank of Spain average rate for that kind of credit, the deal can be considered usurious. Revolving consumer contracts have been annulled above 20% APR.
Before you take it
A consumer loan is repaid with future income you do not have yet. If it is for an emergency, an emergency fund is cheaper than any APR.
The APR is approximated by bisection over the amortisation schedule. Linked insurance and other fees are not part of the calculation.
Frequently asked questions
How is the APR computed?
It is the rate that equates what you actually receive with the present value of every instalment. There is no closed formula: it is solved by approximation, which is what this calculator does.
Can I repay early?
Yes. Spanish law caps the early repayment fee at 1% when more than a year is left, and 0.5% when less.
What about linked insurance?
If the loan requires a policy, its cost should be inside the APR. Ask for the APR with insurance included.
How much can I borrow?
It depends on your income. All your debt instalments together should stay under 35% of what you earn each month.
Does it work for a car loan?
Yes, for a fixed instalment loan. It does not work for leasing or any contract with a residual value.