Personal Loan Payments are a significant proportion of your monthly expenses and it is important to look for opportunities to reduce this monthly payment.
This calculator helps you to work out the interest rate that your Bank is charging and the potential savings from switching over to a cheaper loan.
Prior to making any change to your personal finances, please read the disclaimer
Notes on this calculator
- This calculator assumes a fixed interest rate.
- There are additional payments such as life insurance that you may have to pay to your Bank in addition to the monthly payments.
- All months are assumed to have the same number of days for the purpose of this calculator.
- This calculator assumes that the loan term does not change. Instead of reducing the monthly payment, you can also opt for a shorter loan term.
- The "Early Settlement Fee" & "Processing Fee" are now regulated by the UAE Central Bank.