Alladdin
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الموقع قيد الإنشاء
Work in progress
Site en construction
الموقع قيد الإنشاء
Enter the amount, the yearly interest rate and the duration. The calculator gives the monthly payment, the total you repay and the interest in it.
Amounts in MAD. Equal monthly payments at a fixed annual rate.
Equal monthly payments at a fixed annual rate. It leaves out fees, insurance and any bank-specific terms, so your lender's schedule will differ.
With equal monthly payments, each payment covers the interest on what you still owe plus part of the amount borrowed. Early payments are mostly interest, later ones mostly repayment.
The monthly payment is P × r ÷ (1 − (1 + r)^−n), where P is the amount, r the monthly rate (annual rate ÷ 12) and n the number of months. At a rate of 0%, it is simply P ÷ n.
For 200 000 MAD at 6% over 5 years, the payment is about 3 866.56 MAD a month and the interest about 31 993 MAD in total.
The result is a generic estimate. Ask your lender for its own repayment schedule before you commit.
No. The rate is whatever you type. The tool knows nothing about any bank's products or conditions.
Because it includes interest. The longer the duration, the lower the monthly payment and the higher the total interest.
No. Add them yourself to the monthly figure if your lender charges them.
Record your commitments in Alladdin and see how they weigh on your cash month by month.