Credit calculator

The calculator gives a quick estimate of a loan with equal monthly payments. Enter the amount, the term in months and the annual percentage rate (APR) – the rate that includes interest and mandatory fees – and you will see the approximate monthly payment and the total amount to repay. The lender cards show a range of rates; the rate you are actually offered depends on the amount, the term and your credit history, and you will see it in the lender’s offer and in the standard European consumer credit information form before signing. That form, not the advertised minimum rate, is the right basis for comparing loans. The calculator is for guidance only and does not replace the lender’s own calculation.

Before you borrow

A loan is worth considering when you know exactly what the money is for and how you will repay it from your regular income: replacing a broken appliance, an urgent car repair or a larger planned purchase such as a car or home improvements. It is a poor solution for everyday expenses or for repaying other loans without a plan, because that is how a debt spiral starts. Short-term loans are quick to arrange but are usually the most expensive way to borrow; for larger sums and longer terms, a consumer loan or a bank offer is usually cheaper. Avoid term extensions where possible: each one adds a fee. Before signing, read the contract carefully – it sets out the full cost, your right to withdraw within 14 days and the consequences of late payment, from a damaged credit history to debt collection and court proceedings.

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EU-Credits is not a lender: we do not issue loans or help people obtain them. Some links on this site are partner links: EU-Credits may receive a fee when a visitor goes to a lender’s website, but this does not affect the terms offered. Lending in Europe is regulated by EU directives and national law, and every lender must hold a licence to provide credit services. Everything on this site is for information only; we in no way encourage or urge anyone to take out a loan. The EU-Credits administration accepts no responsibility for any consequences that may arise from using lenders’ services. Before borrowing, assess whether you really need the loan and whether you can repay it on time, so as not to end up in a debt trap. Read the contract with the lender carefully: it sets out all possible consequences and penalties if the loan is not repaid on time.