Use our loan calculator to estimate average monthly cost, mortgage repayments and total payment. Calculate how much each business loan will cost your company. Compare rates and find out which lender offer lowest total loan cost at the best interest rates.
The data used in this business rates comparison is gathered directly from several different commercial lenders. We keep it up to date by frequently collecting data regarding interest rates, processing fees, installments and other terms and stipulation that may or may not effect the loan calculation formula. Please note that most corporate banks and other lending companies will offer/charge different interest rates to different companies depending on the business customers overall credit rating and risk. In reality this this means that the actual rate that you would be offered if you applied for a certain business loan, could be either lower or higher then the loan examples presented on this site.
Our business rate comparison includes 8 different Nordic business loans
Different types of interest rates for loans
- Simple Interest - This is the most basic interest rate. Calculating the simple interest is fairly easy, you just have to multiply the principle by the rate and the term.
- Compound Interest - Often seen used for credit cards and savings accounts, are calculated based on the principal and earned interest druing the previous loan/saving term (usually calculated on a monthly/annual basis).
- Amortized Rates - Killing of a loan is best done by amortization. With amortized rates borrowers pay a larger amount of interest at beginning of a the loan period. As time goes by, repeated monthly repayments of principal (amortization) will shrink the principal and the amount of interest will decrease.
- Fixed Interest - Rates and loan payment remains the same for the entire loan period, making repayment predictable and easier to include in a business budget.
- Variable Interest - Changes on the basis of another underlying interest rate, usually the most current published interest rates of major indexes, such as LIBOR, the Cost of Funds Index, and the Cost of Savings Index.
- Prime Rate - Is the best possible business interest rate that banks and other commercial lenders offer the most credit-worthy companies.