What does your loan really cost? Work out the effective annual rate from the nominal rate and fees locally in your browser. No upload.
No. Everything runs in your browser - your file never leaves your device. How this is verifiable
The nominal rate is not what a loan really costs. As soon as a processing fee or a disagio applies, you receive less but still repay the instalment on the full loan amount. The effective annual rate captures that in a single number: it is the rate that equates the amount you actually receive with the stream of your instalments. That is exactly why loans are compared by their effective annual rate - it folds every price-determining cost into one percentage.
The calculation runs entirely locally in your browser, in pure JavaScript - nothing is uploaded and nothing is stored. The calculator first derives the monthly instalment from the nominal rate, subtracts the fee from the payout and then iteratively finds the monthly rate at which the present value of all instalments equals the payout; from that comes the effective annual rate. Without a fee it equals the nominal rate compounded monthly; any fee raises it. You also see the monthly payment, the actual payout and the total cost. Change an input and everything updates instantly.
An honest note: the calculator models a classic annuity loan with a one-off fee (disagio). Real effective-rate figures under consumer-credit rules can include further items - such as payment-protection insurance, account-keeping costs or a sub-annual payment rhythm - and then differ. What always counts is the effective rate stated in your loan contract. The calculator is good for making the effect of a fee visible and for roughly comparing offers. Amounts in euros as an example - the maths applies to any currency. Not financing advice.
| Input formats | Form inputs (no file) |
|---|---|
| Processing | Locally in your browser (JavaScript) |
| File upload | None |
Limitations: A classic annuity loan with a one-off fee (disagio). Effective-rate figures under consumer-credit rules can include further items (e.g. payment-protection insurance, sub-annual rhythm) and differ - what counts is the loan contract. Good for making the effect of a fee visible. Amounts in euros as an example - the maths applies to any currency. Not financing advice.
No. The calculation runs entirely locally in the browser (pure JavaScript); nothing is sent or stored.
The nominal rate is the pure interest on the loan. The effective annual rate also folds in fees and payout discounts, which makes loans comparable.
A disagio is a discount on the payout: you receive, say, 97 percent but owe 100 percent. It lowers the nominal rate but raises the effective annual rate.
Not necessarily. Real effective-rate figures can include further cost items and round differently. The calculator shows the effect of a one-off fee and suits a rough comparison; the contract is binding.