Tradesman Loan Calculator
Calculate the estimated installment and total cost based on tradesman loan amount, term, interest, support discount, commission, and expense information.
Effective monthly rate = monthly gross interest × (1 - support rate). Monthly installment = P × r × (1+r)^n / ((1+r)^n - 1).
The calculation is based on the fixed-installment loan/amortization formula. In tradesman loans, interest, support/discount, commission, limit, and term conditions may change according to the bank, loan type, and periodic official regulations, so rates are left as user input.
This tool is prepared for informational estimation purposes. For the exact payment plan, support rate, expenses, and usage conditions, the official offer of the bank and the legislation in force should be taken as the basis.
Frequently Asked Questions
How is the tradesman loan installment calculated?
The fixed-installment loan formula is applied using the loan amount, effective monthly interest rate, and term. If there is any support or interest discount, it is calculated as an assumption that reduces the gross interest rate.
What is the support / interest discount rate?
In some tradesman loans, a part of the interest burden can be supported or a special rate can be applied. This rate is left as a user input as it may change periodically.
Are commissions and expenses included?
Commission rate and one-time expense fields can be entered by the user. Guarantee, file, insurance, or similar items may vary depending on the bank and loan type.
