🧮 Professional Loan Calculator
Supports both traditional banking (annual) and microfinance (fixed per-loan) models
⚙️ Loan Setup
✓ This rate applies ONCE to the entire loan
⚡ Quick Examples
Interest Amount
0.00
Total Payable
0.00
Payments
0
First Payment
0.00
📊 Selected Loan Terms
Calculated using the selected method and quoted rate period. Fixed quotes apply once and are available with flat interest.
| Interest Type | Rate | Interest | Total | Type |
|---|
📐 Calculation Details
Calculation Convention:
Interest = Principal × Rate
Step-by-Step:
✓ Interest Depends On:
Agreed percentage only
📅 Duration Affects:
Repayment schedule only
📅 Repayment Schedule
| # | Payment | Principal | Interest | Balance |
|---|
📚 Understanding This Interest Type
Fixed Per-Loan Interest
The interest rate applies ONCE to the entire loan amount, regardless of how long the loan is for. This is NOT tied to time - it's a fixed percentage charge for the service of lending.
✅ How It Works
- • Rate is agreed once for the loan
- • Time does NOT change interest
- • K100 @ 50% = K50 interest (always)
- • Duration only splits payments
🎯 Common Uses
- • Microfinance institutions
- • Mobile money loans
- • Emergency/quick loans
- • Short-term lending
💡 Key Difference from Annual:
With annual interest, a 12% rate for 1 month = 1% interest (K1). With fixed interest, a 50% rate = 50% interest (K50) regardless of whether it's 1 week or 3 months.