Personal Loan Calculator

What does this calculator do?

Calculate the monthly payment for a fixed-rate personal loan, the full amortisation schedule, and the total cost including fees. You can also simulate early repayments to see how much interest you could save.

Nominal rate vs APR: what's the difference?

The nominal annual rate is the base interest rate charged on the loan. The APR (Annual Percentage Rate) also factors in the arrangement fee and allows you to compare loans from different lenders on a like-for-like basis. Lenders in Spain are required to display both figures.

Common fees on personal loans in Spain

Personal loans in Spain can include an arrangement fee (typically 0–3% of the loan amount, charged upfront) and an early repayment fee. Under the Consumer Credit Act (Ley 16/2011), the early repayment fee is capped at 1% if more than one year remains, and at 0.5% if less than one year remains.

Early repayment: reduce term or reduce payment?

When you make an early repayment, you can choose to reduce the term (you finish earlier and pay less interest overall) or reduce the monthly payment (you free up cash each month). Reducing the term is generally the better option if minimising total cost is your goal.

Frequently asked questions

What is an amortisation schedule?

It's the month-by-month breakdown of how much of each payment goes to interest, how much reduces the outstanding balance, and how much you still owe. Your lender should provide this when you take out the loan.

Are the results accurate?

Results are indicative and assume a fixed rate with no changes to the payment amount (except for early repayments). Your lender may apply specific conditions not reflected here.

Does the calculator include linked insurance?

No. Linked insurance (life, payment protection) adds an extra cost not included in these calculations. Ask your lender for the APR with and without insurance to compare the true cost.