There are many types of personal loans out there, bad credit loans and good credit options, and it can be difficult to compare them when trying to find the right one for you. Things like interest rate, additional fees, repayment period and more should all be considered when searching for your loan.
Luckily, CreditNinja’s Personal Loan Calculator can help you make the right choice when it comes to taking out a loan.
We’ve designed this easy-to-use loan calculator to help you calculate all of the costs associated with different personal loans.
Follow these simple steps to input all of your specific information:
Once your loan payments are calculated, it’s time to research your loan options by clicking the “Apply Now” button.
CreditNinja cares about your financial situation. Making good financial choices means brushing up on your financial literacy. Here are some common terms to familiarize yourself with in order to make better money choices:
A loan amount is the sum you will receive after the loan agreement is made. Lenders transfer that sum safely to your checking account before any of your loan payments are made.
Think of loan terms as the duration of the loan payment process. Make sure you know when your payments are due, and the total length of the repayment period.
Interest rate is essentially the amount of money you pay for the service of borrowing the principal loan amount.
The APR is one of the most important factors to consider when comparing different loans. The APR not only includes the interest rate, but any other fees associated with the loan.
Knowing your payment frequency and sticking to it is very important. Late payments or defaulting on the loan can make it even more difficult to pay off in the long run.
If you have any other questions or concerns about personal loans, repayment, or interest rates, reach out to our customer care team.