How to calculate the loan payments? How to calculate the monthly payment for a loan?

A rare person today manages not to take a loan. But for some it is the only way to provide yourself and your family with housing, and for others it's a way not to deny yourself various pleasures, which can be considered a new car, posh shoes or a trip to travel. In any case, credit is a part of our life, and it would be nice to understand how to calculate payments on a loan. Can I do it myself at home? Or do you need to be an expert?

Situation overview

Over the past ten years, there has been a rapid growth in the lending market, especially lending to individuals. It is logical that the financial literacy of people has slightly increased. In fact, it's right that people began to save their money and think about where they spend them. I had to plan cash flows and represent, from what funds will the loan be made up. The secret is that the availability of credit makes you forget about the sense of reality. That is, a person always has a balance of funds in his stock, whether it's a credit card or a quick loan. Moreover, advertising eloquently promises that in your wallet there will always be money for a new dress or car covers. The pink veil will fall off when it's time to reckon.

Before deciding

Yes, yes, you need to decide on a loan! Will you be able to find money for a monthly payment? And do you really need that thing that you want to take money for? You need to consult with family members and, of course, do not take the first loan seen. Offers vary in different banks, and sometimes they can be profitable for your category. For example, an acceptable percentage can be offered to retirees, students or young families. It is also worth considering the option of force majeure, when there will simply not be money to pay for the loan. A number of banks are meeting their clients and proposing debt restructuring. Agree, the confidence is added when the emergency exit routes are thought out. And, of course, you can calculate the payment of the loan in advance. "Sberbank", for example, gives such an opportunity online. On the official website there is a calculator, where you can prescribe the required amount and the preferred period of credit.

In the process of solving

So, how to calculate the loan payments? And why is it necessary, if the bank can do everything on its own? For full confidence in the transparency of the service, the structure of payments and the absence of hidden commissions. You can make preliminary calculations at home, having on hand a calculator, a pencil and a sheet of paper.

Annuity payments

The most popular in the practice of lending are annuity payments. Their amount is the same for the entire duration of the loan agreement. Such a payment consists of two parts: the funds going to pay directly to the loan, and the interest accrued on the amount of the debt. Until the end of payments, the amount remains unchanged, but initially it is dominated by interest, and by the end - the main debt. And how to calculate payments for a loan of this type? n )/((1+%) х ( n -1). There is a special formula: П = С * (% * (1 +%) х n ) / ((1 +%) х ( n- 1).

In such a formula, P is the amount of payment, C is the loan amount. n – это срок начисления в месяцах. Accordingly,% - reflects the interest rate, and n is the accrual period in months. In order to correctly calculate the loan repayment schedule, the annual rate can be converted to monthly, and then expressed in decimal. A monthly payment is received.

To the nearest day

But at registration of the credit contract the schedule make for the certain days, that is why the annual rate is translated in day time, that is divide by quantity of days in a year. n растёт. In this case, the value of n increases. When calculating the monthly and daily rates, the difference is small, only a couple of tens of rubles, but it can also have weight. If you own the construction of tables, you can build an analogue of bank payment to within a day.

So we can introduce another concept of "differential payment" into the conversation. What is this and how to calculate the payments for this type of loan? So, the differentiated payment differs in that it is reduced by the end of the crediting period, and its main share is the debt on the loan, and the remaining one is the interest on the unpaid balance.

Let's return to the question of how to calculate the amount of payment for a loan. The total amount of debt must be divided by the number of months of planned lending. The resulting number will be the main payment. B = S: N , где B – является основным платежом, S – размером кредита, а N – количеством месяцев. The formula for calculation is simple: B = S: N , where B is the main payment, S is the loan size, and N is the number of months. But this is not all, because you also need to learn how to calculate the monthly payment for a loan with interest. p – годовая процентная ставка. It will take another value - p - the annual interest rate. For the final calculation, you need to multiply the loan amount by the annual rate and divide the result by 12 months.

In order not to lose

Even if you plan to pay in advance for a loan, Sberbank, for example, may suddenly surprise by the amount, because it will contain insurance of the borrower. Either the percentage may, on the contrary, be more loyal, if there are bonuses in the calculation. For example, a lower rate may be for bank employees. From insurance sometimes it is worth and refuse, if, for example, the period of credit is small, and the cost of insurance does not justify itself. But in a situation where a mortgage is formalized, insurance is compulsory, and in the event of a loss of ability of the main borrower, the debt can be written off.

Above, we examined the situation with the most honest behavior of organizations that issue loans, but it also happens that banks behave incorrectly. For example, until now you can find references to interest-free loans, which, alas, does not happen! Simply, all accruals and commissions on documents are registered in the column "other fees and commissions". In addition, sometimes employees of banks offer extremely unfavorable credit conditions, hoping for ignorance of customers. Thinking how to calculate the monthly payment for a loan, it is worth applying for printing in several selected banks to compare charges and fees, as well as choose the most transparent loan option. It must be said that differentiated payments are often more profitable in terms of conditions, and the calculation based on the annuity method is very specific and costly. The main thing is not to hurry up with the design and carefully check all the dubious items.