Business loan calculator: monthly payment and schedule
The SBC business loan calculator shows the monthly payment, the total interest and the total cost of a loan from the amount, rate and term you enter, with a fixed payment (Spitzer) or equal principal. It also shows the full schedule by year and by month. The result is an indication only, not an offer and not a commitment.
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An indication only, not an offer and not a commitment. Actual terms are set by the lender, based on the full file.
The rate in an offer you have, or an assumption to test. Not a rate we offer.
The result
- Monthly payment
- ₪9,901
- Total interest
- ₪94,036
- Total cost
- ₪594,036
Monthly payment: ₪9,901. Total interest: ₪94,036. Total cost: ₪594,036.
Over 5 years. With Spitzer the payment is fixed and its interest part falls over time; with equal principal the first payment is higher and the total interest lower.
Balance ₪500,000 falls to 0 after 5 years.
Amortization schedule
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₪118,807 | ₪86,549 | ₪32,258 | ₪413,451 |
| 2 | ₪118,807 | ₪92,806 | ₪26,002 | ₪320,645 |
| 3 | ₪118,807 | ₪99,515 | ₪19,293 | ₪221,131 |
| 4 | ₪118,807 | ₪106,708 | ₪12,099 | ₪114,422 |
| 5 | ₪118,807 | ₪114,422 | ₪4,385 | ₪0 |
How the calculator works
The annual rate is divided by 12 and interest is charged each month on the remaining balance. The calculator leaves out CPI linkage, fees and rate changes.
The monthly rate is the annual rate divided by 12, as Israeli banks quote a loan. Numbers are rounded only on screen, never in the middle of the calculation.
Questions and answers
What is the difference between Spitzer and equal principal?
With Spitzer the payment is fixed. With equal principal the same amount of principal is repaid each month, so the first payment is higher and the total interest lower.
Which rate should I enter?
The rate in an offer you have, or one you want to test. The calculator does not offer a rate; the lender sets it.