Calculators
True cost of a loan
The rate is
You'll pay every month
₦98,509
What you borrowWhat it costs you
- Total you repay
- ₦596,052
- Interest and fees
- ₦96,052
In plain words: Borrow ₦500,000 and you pay back ₦596,052. The loan costs you ₦96,052. 5% a month is about 60% a year.
An estimate, not a loan offer. Ask the lender for the full cost in writing.