We all know that any economy in the world moves thanks to the level of credit that exists in the country. Consumption in our country is driven by personal loans or credit cards , which allow us to buy things in installments that otherwise we could not acquire because they are very expensive to disburse all the money of one. So, thanks to credit (which should not always be very high), consumption moves, the economy grows and we have what we want without having to wait to have all the money to buy it.
However, you have to be very cautious about taking loans. We must all know what our payment limit will be, since we run the risk of drowning financially if the monthly payment is very high, and that is of no use since the price paid in this way to buy something does not justify it. Thus, it is very important to know how much we will pay for the credit that we are going to request.
How to know in advance the share of the loan?
There are two ways to do it: one very easy and the other very difficult. We go first for the difficult: grab a pen and a paper and do the manual calculations according to the system of amortization contracted and the interest to pay. What has been said: it is very difficult.
The easiest option according to these times is to use a Loan Simulator, where with only loading some data (requested capital, applied interest and amortization period) will give us as a result the calculation of the installments of a loan. So that you do not complicate too much, then we bring you a Loan Calculator where the amount of each installment and the final amount of the agreed loan will result. To know the interest charged by each financial institution, you can access our Loans by Bank section and search there for the credit that fits your needs.