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.