Requests for personal financing allow you to cope with needs of different types without having to submit any expense voucher. Calculating payday loans is therefore a very useful option to consider in case of need for money.
Personal financing: plans not to be missed
In order not to be mistaken in choosing a payday loan, it is necessary to review several plans. To help you in calculating personal financing we have chosen some specific examples.
We start from Fine Bank’s “your projects” product and assume the request for $ 15,000 with the choice of a 5-year amortization plan. In this case, the beneficiary would pay a monthly installment of $ 292.80, with TAN and APR corresponding respectively to 6.39 and 6.58%.
payday loans installment calculation: other useful examples
The sustainability of the installment is the first data to be taken into account when calculating payday loans. Recall once again that the analysis of different plans is the best way not to make mistakes and for this we make another example, calling into question the Spin Lender loan proposed by Capital Lender.
Assuming always the request of $ 15,000 and the choice of a 5-year amortization plan, there would be a monthly installment of $ 310.94, with TAN and APR equal to 8.94 and 9.71% respectively.
payday loans: the small Social Institute loan
When it comes to calculating payday loans, it is also possible to refer to the small Social Institute loan, an economic service that allows members of the Unified Management of credit and social services to request money for urgent needs.
The small Social Institute loan allows you to choose repayment plans lasting between 12 and 48 months, with minimum installments corresponding to a net monthly salary (in the case of an annual loan with other ongoing sales).
Personal financing calculation: the Lite Lender proposal
The last option we take into consideration regarding the calculation of payday loans is the Lite Lender Facile loan. How does it work? Also in this case to give an answer we make a specific example, assuming the request for $ 15,000 and the choice to repay them with a 5-year amortization plan.
How much would the installment payable by the beneficiary correspond? At $ 321.15 per month, with TAN and APR equal to 9.90 and 11.06% respectively (total debt borne by the loan contract holder of $ 19,355).
This loan can be requested by natural persons aged between 18 and 70 years and requires an investigation fee of 1% of the total amount requested (collection fee of $ 1).
Its grant does not provide for the presentation of guarantees, except for a document certifying the receipt of an income. The periodicity of the installments is monthly and requires crediting to the bank or postal current account.