Personal loan simulator: calculate how much you will pay

Use our loan simulator for free and calculate for free and easily what will be the monthly payment to be paid and how much interest will be generated in total. In addition, we present the best financing offers of the moment with which you can get the financing you are looking for without complications:


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  • Calculate for free how much your personal loan will cost you
  • How do credit calculators work?
  • Tips for using a personal loan simulator
  • The shorter the term of the loan, the cheaper
  • When the commissions of a personal loan are paid
  • Guide to increase your chances of getting a credit

Use our personal loan simulator to know how much you will have to pay for the financing you want to hire according to the different variables that affect the cost of the credit, such as the interest rate, the commissions, the term or the amount requested. Also, by using the simulator you will be able to discover loans that suit your needs, but with better and cheaper conditions, which will favor your pocket. If you know the amount of the fees and the cost of the loan, you can evaluate with greater criteria the quality of a product and if you can afford it. Calculate for free how much you will pay with the credit you want to hire:


How do credit calculators work?

How do credit calculators work?

The main advantage of loan simulators is that, in addition to helping us understand the credit that we want to hire, they have a very simple operation and anyone can use them. Thanks to these simple and powerful tools we can quickly know the total cost of a loan, that is, the total amount owed and the interest that will have been paid once the credit has expired, the number of installments that we will have to pay and the amount of each one of the monthly payments. For a useful use to the simulators of the entities we just have to follow these guidelines:


  1. Indicate in the simulator the amount of the loan and also the term to which you want to return. This is the essential step, because without the information of the amount of the credit and the amortization period the calculator will not be able to calculate anything. It can be interesting to do several simulations with the calculator introducing different amounts and, above all, playing with the term, to see the resulting installments and the total amount owed.

  2. The next step for the loan simulator to give us a real result will be to enter the commissions that the credit has (opening and study and other periodic expenses). However, if we have resorted to the simulator of a specific product, for example to the one offered by mini-credit companies, once the term and quantity have been indicated, the calculator will tell us the cost of the credit depending on the conditions of the product.

  3. Check the amount of the quotas and the total price of the product: when we have entered all the data, we will only have to check the result. The simulator will allow us to know the amount of each one of the installments that we have to pay, the total interest that we will have paid when the credit has expired and the total owed.

As a general rule, personal loan simulators indicate what interest rate is applied to the simulated credit and what is its annual equivalent rate, although in some cases they will only show us the interest rate applied (TIN), so they will not be Consider the other expenses that the product includes. In these situations we will have to ask the entity how much it will charge us in commissions and linking costs, since both will significantly influence the final price of the product.

Tips for using a personal loan simulator

Tips for using a personal loan simulator

With the help of a simulator we can find out what is the maximum amount that we can afford and the term that we can choose based on the amount of the fees. Remember that this tool will allow us to know, on the one hand, how much money we will have to pay in each installment and, on the other, what will be the total capital to be repaid (principal plus interest) according to the selected conditions.

However, if the credit allows us to choose a very long repayment period, we must be careful , since the simulator will indicate that the fees we would have to pay to repay a loan in many years would be lower than we would have to pay if We refund it in less time. This can lead us to the false belief that lengthening the term will make our credit cheaper, because we will pay less every time, but it is just the opposite: if the term is longer, the time during which interest will be generated will be higher so in the end the cost of financing will be higher than if the credit is returned in less time.

The shorter the term of the loan, the cheaper

The shorter the term of the loan, the cheaperThe shorter the term of the loan, the cheaper

Using a loan simulator is essential to discern if a credit offer is good or, on the contrary, it is not competitive in comparison with the conditions to which it can aspire at any given time. In addition to looking at the TIN and the APR, the term will be one of the factors that most influences the cost of the credit that we want to hire and is that the shorter the term, the less interest will be generated. Let’s see with an illustrative example the effect that the term has on a loan with a capital of 10,000 euros and an interest of 8%:

Loan capital Return period Interest Monthly fee Total owed
€ 10,000 12 months 8% € 869.88 € 10,438.61
€ 10,000 24 months 8% € 452.27 € 10,854.55
€ 10,000 36 months 8% € 313.36 € 11,281.09

If we shorten the deadline with the aim of reducing the final cost of financing, the amount of monthly fees will increase , so before choosing a very short term we should check that we can really afford it. The ideal would be to determine what is the maximum monthly payment that we can pay and choose a term according to that quota. Thus, we will reduce the term as much as possible without risking our pocket.

When the commissions of a personal loan are paid

When the commissions of a personal loan are paid

If we want to hire a personal loan that has formalization fees (opening and study), the simulators are a great tool to help us calculate if we can deal with your payment without problems. Let’s not forget that the formalization expenses of the credit (study and opening fees) are paid together with the first installment, hence the first payment is considerably more bulky than the rest.

Let’s take an example . If we apply for a loan of 5,000 euros and this has a study commission of 2% and another opening also 2%, we will have to pay formalization costs 200 euros . This amount will have to be paid together with the first installment and all at once, although some entities allow financing the formalization expenses, which means that the amount is distributed among all loan installments. However, financing these expenses involves paying interest on them.

It is for this reason that quota simulators are so important, since, in the case that the loan we want to hire has commissions, they will inform us of the amount of the first installment and we will be able to assess whether we are able to face it or not. . In addition, we can also know if it is possible to finance the commissions and pay them together with the monthly installments instead of in full the first month. Thus, although more interests are generated and the quota is higher, the economic effort at the beginning will not be so marked.

Guide to increase your chances of getting a credit

Depending on the type of credit we want to apply for, the profile we must meet and the requirements that will be required will vary . In general, mini-credits tend to have more lax conditions than the products offered by banks, such as personal loans, but even so, there is always a minimum of conditions that guarantee the entity that we can repay the loan. In addition, according to our profile it will not always be easy to obtain the financing we are looking for . If our employment contract is temporary, we do not have seniority, we are self-employed or we are under 21 years old, it may be harder for us to go to the appropriate entity for us. For this from we have made a free guide where we explain what are our real possibilities of obtaining the financing we seek and how to increase them according to our profile:

FREE guide! How to increase the chances of getting a credit

How to increase the chances of getting a credit

Does your bank NOT lend you money and you do not know what to do? Download this guide without any cost and discover:

  • What are your current chances of getting it?
  • How to increase them
  • What is the logic of a lender
  • Who can you ask for a credit with your profile?

To have this useful tool, all you have to do is provide us with your e-mail and you will receive it free of charge, in PDF format, without any type of spam and in a matter of minutes, in the inbox of your e-mail.

View and download guide

About this page

What this page is for: we have created this page to answer any questions about how we should use the loan simulators and get the most out of them. This type of tools are very good for all those who are thinking about hiring a loan, but it is important that we know how to use them if we want to take advantage of all its features to the fullest.

Source : the Bank of Spain and the different banks and lenders that operate in our country have been the main sources to develop this text. We have also based our experience and the knowledge acquired over the years by the comparator experts

Methodology: for the elaboration of this article we have used the knowledge of the HelpMyCash experts and the research and mistery shopping actions that we have carried out. And, of course, we have also used the information that our users leave us in the forum.

About we are a virtual financial product comparator with a wide variety of tools to make life easier for the user, such as loan comparison, mortgages, accounts, deposits and cards, guides, calculators, forums to answer questions. .

Warning: Internet users who use the HelpMyCash tools do not have to pay any costs, since the comparator is free for them. The income of HelpMyCash comes from the advertising and also from the products that are highlighted.

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Recent forum topics


Is it mandatory to pay the death insurance to ask for a credit? @dvidmcc – 1 day ago

  • 1 Answer
  • 0 Votes
  • 44 visits
I am asking for a loan and they are including me yes or yes the death insurance included in the fee (+ € 19 per month). Is it obligatory and legal to do so? Thank you very much
22 hours ago

Help My Cash

Hello, dividmcc:

The hiring of life insurance linked to acceptance is a common practice, especially among banks. Unfortunately, many banks will make this requirement mandatory for the concession. However, they do not usually inform us that we can hire the insurance we want and not the one they offer , so you can compare and find a better offer.

In addition, it is advisable to shuffle other personal loan options , since many of us will be able to hire them without any type of linked product. In this way, you can get rid of a connection that will make us pay for a period even higher than the validity of the loan.

We hope we have helped you, a greeting!


What are the requirements for foreigners to access a loan? @Micaela – 1 day ago

  • 1 Answer
  • 0 Votes
  • 52 Visits
Good evening, my name is Micaela and I’m from Uruguay, next year I’m going to move permanently to Barcelona with my partner. Our idea is to invest there, from here we go with some money but not enough for what we want to do, we need about € 65,000. We plan to open a franchise for a pet store, very profitable for the numbers that the company has already passed on to us. But in the end I would like to know first of all that if foreigners lend them money, what are the requirements for loans to foreigners and mainly if they lend that amount. Obviously I know it depends a lot on the bank, the requirements and so on, but maybe they can give me some guidance, even if I have some minimal possibility of being lent or if there is no such possibility. I await your response and from now on I thank you for your help and disposition. Best regards
Diana Mia
Diana Mia
1 day ago

Hello Micaela! Well my boyfriend (Colombian) took him **** and did not put any hits. I complete the paperwork, I wait a couple of days or something more and that’s it. Try it, I do not think they reject you. Slds


I wanted to know if cofidis is reliable? @Zaida – 3 days ago

  • 1 Answer
  • 0 Votes
  • 41 Visits
I asked for a loan to coffidiz and the contract was sent to me if I sent everything I asked for, do I have the money for sure?
Maria Garcia
1 day ago

Help My Cash

Hello, Zaida:

Cofidis is a fairly reliable lender. According to their website, they declare that ‘in order to speed up all the contracting procedures, we recommend that after printing the PDF (your request) you confirm that all the information included is correct and attach the photocopies of the requested documents. Once we receive your request, we will transfer the money 24 hours after the approval of your credit application.

Therefore, as far as we can understand, after sending you the application and the documents, you will receive an affirmative or negative response. If you accept the credit, in less than 24 hours you will receive the money.

A greeting!

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