How is the monthly loan repayment calculated?

It uses the standard amortising-loan formula: M = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the principal, r is the monthly interest rate (annual rate divided by twelve) and n is the number of months. Every payment is the same; early payments are mostly interest and later ones mostly principal.

The TAE (Tasa Anual Equivalente) is the Spanish equivalent of the APR. It bundles the nominal interest with compulsory fees so two loans can be compared fairly. This calculator applies a flat nominal rate; if you only know the TAE it is a close proxy, but the true cost including all fees may be slightly higher.

What costs are not included?

The estimate covers interest on the principal only. Spanish lenders often add a one-off opening commission (comisión de apertura), study or arrangement fees, and sometimes payment-protection insurance. Those raise the real cost above the figure shown, so always check the loan's full TAE and the FER pre-contractual disclosure.

Does paying over a longer term cost more?

Yes. A longer term lowers each monthly payment but means you pay interest for longer, so the total interest rises. Shorten the term and the monthly payment goes up while total interest falls. Try a few terms to find a payment you can afford without overpaying in interest.

Is this an offer of credit?

No. It is an educational estimate of repayments at the rate you enter. Actual rates depend on your credit profile, income and the lender, and are subject to the Banco de España's transparency rules. Use it to plan, not as a guaranteed quote.

Spain Personal Loan Calculator

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This Spain personal loan calculator turns a préstamo personal into a clear monthly repayment, a total interest figure and a full amortisation schedule. Enter how much you want to borrow, the TAE (APR) the lender quotes and the term, and the tool does the rest using the standard amortising-loan maths Spanish banks use.

How it works

The fixed monthly repayment comes from the amortising-loan formula:

M = P · r · (1 + r)^n / ((1 + r)^n − 1)

where P is the principal, r is the monthly rate (annual rate ÷ 12) and n is the number of months. Each month the tool charges interest on the outstanding balance, applies the rest of the payment to the principal, and repeats — producing the month-by-month schedule. Early payments are mostly interest; as the balance falls, more of each payment chips away at the principal.

Example

Borrow EUR 15,000 at 8.5% TAE over 60 months and the monthly repayment is around EUR 308, with roughly EUR 3,460 of total interest. Drop the term to 36 months and the payment rises but total interest falls sharply — the schedule shows exactly how the interest-versus-principal split shifts over time.

Notes

Spanish consumer loans quote a TAE that bundles interest plus compulsory fees. This estimate uses a flat nominal rate and excludes any opening commission, arrangement fees or payment-protection insurance a lender may add. It is an educational planning tool, not an offer of credit — confirm the full TAE and the FER disclosure with the lender.