Bank Loan Assessor Teaser

Use this Excel spreadsheet to compare two bank loans, or to calculate the actual rate of interest being charged on a loan.


  1. Converts all fees into a cost of money - the interest rate - making loans with different fees comparable
  2. Copes with bullet payments (where an element is repaid as a lump sum at the end)
  3. Exposes the flat rate sham
  4. Shows the actual (nominal) rate of interest the bank is charging, along with the corresponding APR
  5. Copes with monthly payments for terms up to 30 years
  6. Shows the amount of debt outstanding at any point during the loan
  7. Quick calculator for simple cases where you know the repayment and want to know the rate


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