What is your interest?
Because the formula to calculate the interest is very complicated, we make our Excel calculation module available. This allows you to easily calculate the interest of a loan without having to delve into the formula. To use our formula to calculate the interest, you do need some information. These are the amount you have borrowed, the term and the monthly installment. If you enter this information, the formula calculates the interest and gives you a good indication of the interest you pay monthly and annually for your loan.
Calculate the interest on your loan immediately
If you want to calculate the interest on a personal loan, it is important that you enter the original loan amount and the original term. Do you want to calculate the interest of a revolving credit ? Then you can enter the current outstanding balance and the (theoretical) term of the revolving credit.
Of course, there are complicated formulas for calculating cumulative interest. However, the cumulative interest of revolving credit or a personal loan can also be calculated manually, without a complicated formula: Installment amount x (Theoretical) Duration = Total amount to be paid - / - loan amount = Cumulative interest.