Annuity and declining schedules · total interest · effective rate incl. fees
Loan Calculator — monthly payment and effective interest rate
Consumer, car or business loan: enter the amount, annual rate and term — see the monthly payment, total interest and the full repayment schedule.
Calculate
| Monthly payment | ₾499.24 |
|---|---|
| Total interest | ₾1,981.78 |
| Total to repay | ₾11,981.78 |
| Effective annual rate | 19.56% |
The effective rate counts interest and the upfront fee; insurance and other charges are not included — the effective rate in the bank contract covers every cost.
Repayment schedule
| Month | Payment | Principal | Total interest | Balance |
|---|---|---|---|---|
| 1 | 499.24 | 349.24 | 150 | 9,650.76 |
| 2 | 499.24 | 354.48 | 144.76 | 9,296.28 |
| 3 | 499.24 | 359.8 | 139.44 | 8,936.48 |
| 4 | 499.24 | 365.19 | 134.05 | 8,571.29 |
| 5 | 499.24 | 370.67 | 128.57 | 8,200.62 |
| 6 | 499.24 | 376.23 | 123.01 | 7,824.39 |
| 7 | 499.24 | 381.88 | 117.37 | 7,442.51 |
| 8 | 499.24 | 387.6 | 111.64 | 7,054.91 |
| 9 | 499.24 | 393.42 | 105.82 | 6,661.49 |
| 10 | 499.24 | 399.32 | 99.92 | 6,262.17 |
| 11 | 499.24 | 405.31 | 93.93 | 5,856.86 |
| 12 | 499.24 | 411.39 | 87.85 | 5,445.47 |
| 13 | 499.24 | 417.56 | 81.68 | 5,027.92 |
| 14 | 499.24 | 423.82 | 75.42 | 4,604.09 |
| 15 | 499.24 | 430.18 | 69.06 | 4,173.91 |
| 16 | 499.24 | 436.63 | 62.61 | 3,737.28 |
| 17 | 499.24 | 443.18 | 56.06 | 3,294.1 |
| 18 | 499.24 | 449.83 | 49.41 | 2,844.27 |
| 19 | 499.24 | 456.58 | 42.66 | 2,387.69 |
| 20 | 499.24 | 463.43 | 35.82 | 1,924.27 |
| 21 | 499.24 | 470.38 | 28.86 | 1,453.89 |
| 22 | 499.24 | 477.43 | 21.81 | 976.46 |
| 23 | 499.24 | 484.59 | 14.65 | 491.86 |
| 24 | 499.24 | 491.86 | 7.38 | 0 |
Frequently asked questions
What is the monthly payment on a ₾10,000 loan?
At 18% a year over 24 months on an annuity schedule — ₾499.24 a month; total interest ₾1,981.78.
Annuity vs declining payments — what is the difference?
An annuity is the same payment every month. A declining schedule repays equal principal, so the first payment is larger and then falls: on the same loan ₾566.67 → ₾422.92, total interest ₾1,875 (annuity ₾1,981.78).
What is the effective interest rate?
The real yearly price of a loan — interest, fees and compounding together. An 18% loan with a 2% fee has an effective rate of ≈22.05%. Georgian banks must state it in the contract.
How much can I borrow on my salary?
Under National Bank of Georgia rules, with GEL income and GEL loans, payments on all loans may not exceed 25% of net income below ₾1,500 a month and 50% above; foreign-currency loans have a lower cap. The salary calculator shows the exact figure.
Can I repay a loan early?
Yes. The bank may charge an early-repayment fee whose maximum is capped by law. Check your contract.