Take a sheet of paper and write down the following information: the amount of money you have borrowed in the loan amount along with the interest you will need to pay the Bank and the period for which you took the loan. All these data you can watch in the agreement on credit obligations.
Now, to calculate annual interest on your loan, the total amount along with the interest you will need to pay subtract the amount you took from the Bank. Then, the resulting value of the divide by the term of the loan (in years) and multiply it by 100%. The resulting number will be the annual interest rate.
To calculate the annual interest rate on the loan you can another way. To do this, add up all monthly payments according to the schedule. Then add to the result the amount of Commission, if you paid for it. In addition, if the loan you were given in the form of a credit card, add more the amount of the annual fee of this card. Further, the total value multiply by the percentage of the loan specified in the contract, divide by the term of the loan (in years) and multiply it by 100%. You will get the value of "effective" interest rate, that is, one you pay the credit institution for use of funds.
If the processing of a loan you are making life insurance for her and you also will need to pay a certain percentage. Therefore, carefully read the contract on the credit, especially information, is written in small print.
In addition, if the loan you pay a Commission to the Bank, you can get it back after paying the full amount of the debt, and immediately after receiving the money. For this free form to email a claim for refund. If the Bank fails to satisfy your claim, you have the right to go to court, but, as a rule, banks do not bring the case to court and recover the money.