Monthly loan Calculator
Find out your monthly loan repayments
The monthly loan calculator is a great way of working out whether you can actually afford the personal loan that you are planning to take out. Firstly enter the loan amount, followed by the interest rate (make sure that you use the APR rather than the actual interest rate, because this will give you a more accurate comparison of different loan products), and then the loan term. When you are considering taking a loan, the type of loan that you should have is determined by the loan purpose. For example, if you want a loan for a car purchase, you would usually need an unsecured loan because it is considered a smaller loan (unless of course you're planning to buy a Lamborghini!).
If you are taking out a loan for home improvements, or for another sizeable purchase, you may find that a secured loan â€“ where you have to put up your house or another valuable asset as security against the loan. As you would expect, a secured loan comes with much greater risks attached, so you should be very certain about your ability to repay the loan if you are going to choose this option. It is advisable to speak to a professional adviser before going ahead with the loan, to ensure that you have the right one for your circumstances. The monthly loan calculator will help you start off this research process, and you can click on the link below to find a loan specialist when you're ready to proceed.