A financial tool offered by Abu Dhabi Commercial Bank (ADCB) that assists potential borrowers in estimating their personal loan repayments. It takes into account factors such as the loan amount, interest rate, and loan tenure to project monthly installments, total interest payable, and the overall cost of borrowing. As an example, an individual seeking to borrow a certain sum for a specific period can input these details into the tool to understand the financial implications before applying for the loan.
This calculation resource is essential for financial planning and informed decision-making. It enables individuals to understand the affordability of a loan and compare different loan scenarios by adjusting parameters like loan amount and repayment period. Historically, such estimations required manual calculations or consultations with bank representatives, but this instrument offers a convenient and accessible way to obtain an immediate understanding of borrowing costs.
