Loan amount
Enter the amount you plan to borrow.
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English
Englishעברית
English
Englishעברית
Estimate the monthly repayment and total cost of a loan.
How much you want to borrow
How many months you will take to repay
The annual rate offered by the lender
Spitzer · Unlinked
Monthly payment
2,028 ₪The difference between the amount received and total payments
The interest rate matters, but the loan term also has a major effect on total cost. More months may reduce the monthly payment while usually increasing the total amount paid. Change only the term to see the difference.
Enter the amount you plan to borrow.
Choose the number of months over which you will repay the loan. A longer term usually lowers the monthly payment but may increase total interest.
Enter the annual interest rate offered to you. Compare offers using the same amount, term and repayment method.
With Spitzer, the payment is generally fixed for a fixed-rate, unlinked loan; with equal principal, the payment starts higher and declines; with a partial balloon, principal is paid at the end; and with a full balloon, both principal and interest are deferred to the end.
For an index-linked loan, the outstanding principal changes with the Consumer Price Index. If the index rises, both the debt balance and payments may increase.
The principal is the amount you received from the lender before interest and indexation. If you took out a loan of 100,000 NIS – that is your initial principal.
The principal is the money you borrowed. Interest is the price you pay for using the lender's money. Therefore, at the end of the loan term, you usually repay more than the amount you received.
Not necessarily. A longer term can make the monthly repayment easier, but it usually means you will pay interest for longer, so the total cost of the loan increases. It is advisable to check both the monthly repayment and the total cost in the calculator.
Under the Spitzer method, for a non-indexed loan with a fixed interest rate, the total monthly repayment generally remains constant. With equal principal, the same portion of the principal is repaid each month, so the interest gradually decreases and the monthly repayment declines over the term.
Because at the beginning of the loan, the outstanding principal balance is still high, so the interest paid on it is also high. As the principal is repaid, the outstanding balance decreases and the interest payment also becomes smaller.
This is a loan in which a significant portion of the payment is deferred until the end of the term. In a partial balloon loan, interest is generally paid during the term and the principal at the end. In a full balloon loan, most or all of the payment is deferred until the end. The advantage is a lower ongoing payment; the disadvantage is that you must be able to make a large payment at the end of the term.
In such a loan, the principal is linked to the Consumer Price Index. When the index rises, the principal balance may increase, and accordingly, so may the repayments.
Not necessarily. You should also compare the loan term, repayment method, indexation, and additional costs. Two loans with the same interest rate may cost different amounts if the other terms differ.
You need to consider both. The monthly repayment should suit your cash flow, but a very low repayment achieved by extending the term may cause you to pay much more over the life of the loan.
The calculator takes into account the principal, interest, and indexation entered, and does not include fees or additional costs that may apply to the loan.