🏦 Loan Calculator
Calculate monthly payment for personal or real estate loans
Loan Details
Important Information
Difference between Conventional and Islamic Financing:
- Conventional: Declining interest - interest decreases as principal is paid
- Islamic (Murabaha): Fixed profit - profit is calculated on full amount for entire term
Tips:
- Compare offers from multiple banks before choosing
- Check administrative fees and insurance
- Early repayment can save a lot on interest
ℹ️ About This Tool
The Loan Calculator is a free comprehensive tool that helps you calculate monthly payments for all types of loans (personal, real estate, auto).
Benefits of using the calculator:
- Accurate calculation: Monthly payment and total amount due
- Financing comparison: Conventional vs Islamic
- Comprehensive: Personal, real estate, auto
- 100% free: Unlimited use
📋 How to Use
- Choose financing type: Conventional or Islamic
- Enter loan amount: Amount in SAR
- Enter interest rate: Annual rate
- Select term: Repayment period in years
- Calculate: Click the calculate button
📖 About Loan Calculator
The Loan Calculator is a free comprehensive tool for calculating loan payments for personal, real estate, and auto financing.
💡 Available Loan Types:
- Personal financing: For personal and family needs
- Real estate financing: For buying homes and properties
- Auto financing: For buying vehicles
- Islamic financing: Sharia-compliant options
🔍 Sources:
Related Financial Calculators
Frequently Asked Questions
Monthly payment = (loan amount × monthly rate × (1+rate)^months) ÷ ((1+rate)^months - 1). Use our calculator to compute this automatically by entering amount, term, and rate.
Profit rates range from 3% to 8% annually depending on bank, finance type, and credit profile. Islamic banks use Murabaha instead of interest. Compare banks to get the best rate.
Per SAMA regulations, monthly installment should not exceed 33% of net salary for personal finance, and 65% for all obligations combined (including mortgage).
Conventional finance charges interest on the amount. Islamic Murabaha: bank buys the goods and sells them to you at a known profit in installments. Financial result is similar but Sharia structure differs.
Early repayment is possible at most Saudi banks. It may require early settlement fees (usually 1-3 months profit). Contact your bank to know the full settlement amount and applicable fees.
Yes, loans are recorded in SIMAH. Regular payments improve your credit record. Late payments have negative impact. Multiple simultaneous loans lower credit score and make it harder to get new financing.