How do I use an online bank loan calculator?

How do I use an online bank loan calculator?

How do I use an online bank loan calculator?

An online bank loan calculator is the easiest way to determine whether you will be able to qualify for the loan amount you’d like. To use the online bank loan calculator, enter the total amount you are considering applying for, anywhere between R5,000 and R150,000. Next enter the estimated interest rate, and the period over which you would commit to repaying the loan, which may be anywhere between 24 and 72 months. Hit calculate, and the monthly repayment rate will be displayed for you. If you’d like to recalculate a more reasonable rate, interest rate, or time frame just adjust each variable to change the total monthly payment.