Do you know how to calculate the loan fee? We show you how

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There are moments in life when an unforeseen event can cause you to have a hole in your personal finances and therefore you must ask for a loan. You then face the decision of where to ask for it, what amount and how to calculate the loan fee. The first thing you should look for when applying for a credit online is that the page, as with Binary Lenders, meets all the security requirements.

When deciding how much money you are going to request, you also have to consider the time in which you want to pay it back and the loan installments that you will have to pay each month. To help you in a decision and that you do not end up taking unpleasant surprises with monthly payments that you cannot pay, on the Binary Lenders page you will find a simulator that will tell you how much you will have to pay each month depending on the amount you ask for and the deadline to return it.

 

The loan installment is very easy to calculate in Binary Lenders

loan installment

This tool that will be of great help is very simple to use. You have two options. With the first you can enter the amount you want to request, if you are clear, and the loan fee you want to pay. With the second you can move the two bars until you reach the amounts you want. Each time you choose, in any of the two options, the money you want and the monthly payment, the months in which you must return the credit will appear a little below. You can order from 750 dollars to 5,000 dollars and you have a minimum term of 6 months and a maximum period of 36 to pay it.

Before applying for a loan and calculating the loan installment, you should consider your borrowing capacity. That is, how much you can ask for a loan considering that when you pay it back you should not jeopardize your financial integrity. It is estimated that, generally, you should not spend more than 35% -40% of your monthly income to pay monthly payments. And this taking into account other fixed expenses, such as mortgage, food or bills that you have to face each month. That is why Copy Lender Finance makes you a financial study, in a process that only takes a few minutes, before approving your loan application and in some cases it offers you less money than you have requested, so as not to put your finances at risk.

 

Request a loan, How much?

Request a loan, How much?

Sometimes it is better to request a lower amount but know that you will be able to return without problems, because also good payers have a reward. If during the first months you have covered the loan installment without delays, Binary Lenders offers you the possibility to extend your credit. So when requesting a loan do not get carried away by that thought of “since I get in to pay it I am going to ask for a little more money than I need and I give myself a whim or I live more comfortably”. You have to sit down and seriously reflect the amount needed and how much you can afford to pay off the loan fee per month. You already know that if you have doubts, the Binary Lenders simulator can help you.

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