A cash loan calculator is a convenient online tool, which helps you estimate interest rates and payments for a personal loan. Whether you have some financial emergency, like Dale from sealwithease.com did when he came to us, or you need help with everyday expenses, cash loan might be the solution you are looking for.
However, with so many options out there, you can hardly be sure which calculator will provide you a proper estimate. Additionally, make sure it calculates fixed and variable interest rates as well. Now, here are a couple of online tools you can use for this purpose.
eCompareMo is a popular online loan calculator in the Philippines, and it’s a great tool for all people who want to check whether they can afford monthly installments. It allows you to project how much money you will have to pay each month, and you can easily decide on your options. However, regardless of the results you receive, make sure that you can budget your payments.
Now, here are a couple of steps you should follow:
First of all, insert the amount you intend to borrow and set up the repayment time, also known as a tenor. This can be one month or one year, depending on the terms and conditions the lender offers you. The next comes the interest rate, which is recorded on an annual basis.
eCompareMo will then estimate your monthly installments with interest rate and offer you a preview of the loan. Additionally, you can use this online tool to calculate flat and variable interest rates, which might be an essential feature for some of the borrowers.
Besides being an online tool, Moneymax is also an online lender that helps you check and apply for different types of loans in the Philippines. However, this might depend on numerous factors, such as fees, interest rate, your salary, and others.
This calculator compares personal and cash loans that should be repaired up to 60 months. Keep in mind that you will be changed with an effective interest rate that varies between 1.39% to 32.05%.
For example, if you borrow P50,000 over 24 months, with 1.59% EIR, then you will pay P3,030 each month, which makes a total of P72,720. However, keep in mind that fees can be higher or lower, and it all depends on the amount you plan to borrow. Therefore, this calculator helps you estimate your financial situation, as well as the ability to repay the loan on time.
But how does this service work?
First of all, be prepared to share some details regarding your credit history, monthly income, and expenses. Next, identify the type of loan that suits your needs. In this case, review the interest rate, loan requirements, and payment terms. Submit your application, and their representatives will contact you.
In the same order, you can use Moneymax’s online loan calculator, which provides you immediate results. On the other hand, if you want a more detailed analysis of your financial situation, then you should get in touch with their staff.