The best sites that offer a loan rates calculator

Are you mulling over whether to take out a loan and wondering how you can cut through the muddle of interest rates to see how much the loan will actually cost you? It can be a minefield out there when it comes to financial terms, leaving you a little bit jaded. Surely it can be a little more simple than this? The good news is that plenty of sites offer the use of a loan rates calculator, and in this blog we are going to point you towards the very best of them.

Using a loan rates calculator is a fantastic way of instantly figuring out how much a loan will really cost you. All you have to do is enter the interest and the number of years, and it will give you an instant idea of what your outgoings will be. A fantastic first site for you to check out to start finding out how much you will be on the hook for is Money Supermarket, and they have an excellent loan calculator on their site at http://www.moneysupermarket.com/loans/. Their loan calculator works out how much a loan will cost you from a whopping 314 different UK providers, meaning you get a comprehensive idea of just how much finance will cost you from any UK company.

Another brilliant, and slightly more traditional tool for you to use is the Loan Repayments Calculator on the Motley Fool site at http://www.fool.co.uk/loans/loan-calculator.aspx. All you have to do to use this more simple loan calculator is enter how much you want to borrow, the repayment period and what the rate of interest will be. It will instantly keep you informed about just how much your loan will cost, saving you time and effort!

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