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Monday, March 7, 2011

Best free online bank loan calculators

Free online bank loan calculators
Cost of debt is an important loan calculation
The best free online financial calculators include bank loan calculators. They are available for use on both mobile and traditional computer operating systems in addition to providing accurate measurements on the costs of bank loans. Since bank loans include fees, interest, compounding and may also have differing payment structures and proportional collateral requirements, the best online bank loan calculators should be able to incorporate annual percentage rate (APR), margin, yield, term and other variables into the calculations if necessary. These are helpful calculations in personal finance because they assist with accurately planning financial decisions.

Another useful feature of the best online bank loan calculators are multiple calculators. For example, since there are different types of loans, a website with online bank loan calculators may also have a calculator for each type of loan. These online bank loan calculators may also have a number of additional built in tools to assist with the quality and optimization of personal banking. Below are some of the best free online bank loan calculators based on the above criteria.

Bankrate.com financial calculators

Bankrate.com offers several online bank loan calculators that save time performing manual calculations. These calculators provide reasonable outputs to help plan loan costs and budget your money.

Mortgage loan calculator: http://bit.ly/B9d6l
Auto loan calculator:  http://bit.ly/5RQYy
Debt consolidation calculator: http://bit.ly/onrbm

Calculators at Calculatorplus.com

The online bank loan calculators at calculatorsplus.com are among the best, especially for mortgage loan calculations. This is because calculatorsplus has an individual calculator for multiple types of mortgages in addition to mobile mortgage calculator. These loan calculators also provide comparisons, numerical sliding scales, graphic analysis and payoff information which are all useful in assessing the feasibility and practicality of a loan.

Line of credit calculator: http://bit.ly/dfrCOT
Loan comparison calculator: http://bit.ly/c8OFmJ
Enhanced loan calculator: http://bit.ly/3TTnPE

FinAid.org calculators

For students and those planning on enrolling in educational programs Finaid.org online loan calculators provide a number of measurements that are tailored to student loans whether those loans are directly financed by banks or via the government through financial institutions. Since these types of loans have different payment plans, financial scenarios, and structures, these calculators are  specifically designed to more accurately assess loan costs. These free online calculators are useful tools for fiscally responsible students.

Prepayment calculator: http://bit.ly/cUjGbT
Loan default calculator: http://bit.ly/bM9s8j
Loan consolidation calculator: http://bit.ly/xzcnL

Exotic and additional loan calculators

For loans that involve reverse mortgage, margin percentage, currency trading or specific functions additional bank loan calculators may be necessary. Therefore, among the best free online bank loan calculators are those that can assist borrowers with these types of calculations. The following calculators are specialized bank loan calculators that assist with computing the aforementioned functions.

AARP Reverse mortgage calculator: http://bit.ly/bCvpN6
CBOE Strategy based margin calculator: http://bit.ly/bM5CJc
FXStreet Carry Trade calculator: http://bit.ly/c0Cy9i

Image license: Petteri Aimonen; US-PD