Loan calculator
Estimate monthly annuity payment, total cost and interest for a fixed-rate loan.
Methodology
- Annuity: M = P · r · (1+r)^n / ((1+r)^n − 1); annual rate in % → monthly r = (annual/100)/12; n = months
- Estimate only — lender fees and APR may differ
Example
€10 000 · 36 months · 5.5% → monthly payment from the annuity formula.
What does the loan calculator calculate?
The loan calculator is an online tool that calculates monthly loan payments, total interest, and the amortization schedule for loan repayment. The calculator uses the standard annuity payment formula, which is used by most banks in Bulgaria. This formula ensures equal monthly payments throughout the repayment period. The calculator is useful for individuals who want to take out a loan and want to understand the financial implications, for those who want to compare different loan offers, and for anyone who wants to plan their budget and understand how loan payments affect their finances. It helps you make informed decisions about borrowing and choose the best loan offer for your needs.
How to use the loan calculator?
Using the loan calculator is very simple. Follow these steps:
- Enter the loan amount: Enter the principal in EUR (€).
- Enter the interest rate: Annual nominal interest rate in percent (bank offers and creditworthiness vary).
- Set the repayment term: Enter the period in months.
- Calculate: Click "Calculate" to get the results.
- Review the results: View the monthly payment, total interest, total amount to repay, and the amortization schedule — all in EUR.
After calculating your monthly payment, you can compare real offers from banks through our partner CREDiPORT.
Example with specific numbers
Control example: 10,000 EUR, 5.5% annual interest, 36 months
- Principal: 10,000.00 EUR
- Annual interest rate: 5.5%
- Term: 36 months
- Monthly payment: 301.96 EUR (annuity formula)
- Total repaid: 10,870.52 EUR
- Total interest: 870.52 EUR
Amounts are already in EUR — no BGN conversion. Early months have a larger interest share; later months pay more principal.
Sources and notes
The loan calculator uses the standard annuity payment formula, which is used by most banks in Bulgaria. The formula ensures equal monthly payments throughout the repayment period. Real interest rates can vary depending on the bank, your creditworthiness, the type of loan, and market conditions. We recommend always consulting with the bank for exact terms and interest rates before taking out a loan. The calculator does not include additional fees, commissions, or insurance that some banks may charge.
Financial results are estimates from standard formulas. Not a bank offer and not a substitute for a contract or advice.
Sources:
- BNB – Bulgarian National Bank
- ECB – European Central Bank
- Page formulas – Annuity, interest, amortization, etc.
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Frequently Asked Questions about Loan Calculator
What does the loan calculator calculate?
The loan calculator calculates the monthly payment, total interest you will pay, and the amortization schedule for loan repayment.
What is the difference between fixed and variable interest?
Fixed interest remains constant throughout the loan term, while variable interest can change according to market conditions and the reference interest rate.
What is an amortization schedule?
The amortization schedule shows the breakdown of each monthly payment - how much goes to principal and how much to interest, as well as the remaining principal after each payment.
Can I use the calculator to compare different loan offers?
Yes, you can enter different parameters (amount, interest, term) and compare the results to find the most suitable offer for you.