How to calculate a loan: the planned expenditures.

The Percentage of consumed products and services is growing every year because of previously inaccessible things, which had to postpone the years, one can afford the ‘here and now”. It's enough to take out a loan, and to pay monthly a small amount, and desired has already been purchased, and there is no need to wait long and to save money. Logic in these arguments there, but before you run to take out a loan in the first Bank, which serves “low interest”, is to calculate the maximum loan amount. Then to compare loan offers of different banks and choose the appropriate option.

You can Start with the calculation of the maximum amount on a loan calculator which banks offer on their official websites. The total amount of the loan they are counting very roughly, but you can navigate to it. At least, you can see that the amount you calculate based on your confirmed income. On the Bank's website, you can find loan terms and current interest rates. Special attention should be paid to Bank fees, penalties and necessity of of insurance.

If you have wondered how to calculate the credit, you will need all this data. Taking the Bank a certain amount, you will need to get it back with interest. Interest in the differentiated damping are usually calculated with the following formula:

 interest Amount=(the Amount of debt*Annual interest rate)/100*12                          

Don't forget to add the amount of the principal debt and all these commissions. Penalties banks usually impose for the late cancellation of the loan or extinction of smaller amounts than those specified in the schedule. If you are interested in how to calculate a loan, or rather, how many you can request from the Bank to the maximum, can apply the following formula:

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SP =P/(T+1)* the annual interest rate on the loan in rubles/2*12 * 100

Where  SP - the maximum amount of loan, R & ndash; the creditworthiness of the Borrower and t – loan term in months. Keep in mind that the amount each Bank will vary downward depending on the age of the customer, tenure of work, the availability of positive credit history, stability of income, availability of insurance, dependents, etc. the customer's Solvency is calculated according to another equation:

R = PI * K * t , where

DCH - average monthly income (net) for 6 months minus the obligatory payments, apply the coefficient and t-time in months. Obligatory payments - taxes, alimony and other payments. For pensioners as income is taken monthly pension.

For individual entrepreneurs solvency will be calculated in a different way. For those who in the course of the loan repayment will come into retirement age, the capacity to pay will be slightly lower, since “retirement months” considered on the basis of the determined amount of the minimum pension.

Individual approach to each client, among other things, includes the application of appropriate correction factors to calculate the maximum loan amount.

Calculate loan exactly how to make at the Bank, is quite difficult. Therefore, almost all banks are strongly recommended to visit the loan officer at the Bank and find out all the questions on the spot. Usually at the first consultation, the credit inspector can give you a real “ceiling” of the loan amount.

Before going to the Bank, try to soberly assess their capabilities. No wonder in the beginning of the article, it was proposed to calculate the credit, but rather the amount that should be returned. Perhaps your desire to get everything at once, dictated not by need, but a simple whim. To give money is much harder than to receive.