iLoan Calc (Loan calculator) - Reviews, Revenue and Downloads - Apple App Store

Description

iLoan Calc is a loan simulator application where you can setup your own details.
You can calculate not only your mortgage but also your car loan or other loans.

[Simple user interface]

It's very simple to use. You can see your loan to be setting up 4 basic entries: Total loan amount, Interest rate, Term and Payment method.

[Detail settings]

Detail can be added as needed. For example, bonus payment, accelerated repayment and so on.

[Loan simulation]

iLoan Calc calculate your loan exactly. If both the repayment start date and the borrowing date are set, daily interest is calculated.

[Comparison]

You can compare between loans with different settings. Moreover, the comparison with/without accelerated repayment is also available. This allows you to check the effect of accelerated repayment easily.

[Main features]
- Calculation of each amount:
- monthly payment
- bonus payment
- yearly payment
- total payment
- total interest
- percentage of interest allocation, etc.
- Show the amortization schedule, export as a CSV file.
- Show graphs (historical graph, comparison graph)
- Comparison:
- compare with/without accelerated repayment
- comparison between data
- Save data
- Calculate the loan amount using a subsidiary calculation function:
- from desired repayment amount
- annual income

[Settable entries]
- Loan amount
- Interest rate and type (Fixed, Fixed multi-step, Variable)
- Loan term
- Payment method (Principal equal, Interest equal)
- Bonus payment
- Accelerated repayment (Reduce the total term, Reduce the monthly payment)
- Various cost (Fees, Taxes, Insurance etc)
- Starting date
- Starting age
- Borrowing date

[Notes about calculation]
- 5 year rule, 125% rule
Amount of monthly payment is revised once every 5 year when you setup variable interest rate (5 year rule). The maximum amount of payment after the adjustment is 1.25 times more than the original amount (125% rule).

- Accelerated repayment with reducing total term for the bonus payment
If you accelerate repayment by reducing the total term, the reduced term is every 6 months (if you select twice a year bonus payment) or 12 months (if you select once a year bonus payment).

* iLoan Calc is an application that allows you to calculate various amount of a loan.
Please note that the results on this application gives a guideline and does not necessarily correspond to the results of financial institutions.

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Screenshots

User Rating

3.5 out of 5

2 ratings in Canada

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1 star

Ratings History

Reviews

Excellent

Probably the best one I’ve used. Easy to enter terms and see results for various scenarios. Good job developer.

Has promise but no biweekly calculations???

So far it only seems to be able to do monthly payment calculations no biweekly or weekly options .

Store Rankings

Ranking History

App Ranking History not available yet

Category Rankings

Chart	Category	Rank
Top Paid	Japan Finance	1
Top Paid	France Finance	30
Top Paid	Belgium Finance	55
Top Grossing	Japan Finance	56
Top Paid	Japan	92

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