Nigerian Loan Calculator
Enter your loan amount, interest rate, and tenure to see your exact total repayment, interest cost, periodic payment, and full schedule — before you borrow a single kobo from any loan app.
Loan Calculator
Fill in the details below and tap Calculate
High Cost Loan
Repayment Schedule
| Period | Payment | Principal | Interest | Balance |
|---|
Choose Loan Type
Flat Rate is most common in Nigerian apps. Reducing Balance is used by banks. Daily is for short bridge loans.
Set Your Loan Amount
Drag the slider or type directly. This is the amount you want to borrow, not what you will repay.
Enter the Interest Rate
Use the monthly rate shown in the loan app. Most Nigerian apps charge between 3% and 30% per month.
Set Tenure and Fee
Choose weeks, months, or days. Add any processing fee if the app charges one upfront.
Read and Share
Your full breakdown appears instantly. Share with anyone before deciding to borrow.
Total Repayment
Everything you will pay back — principal plus all interest plus any fees. This is the real cost of the loan.
Total Interest
What borrowing costs you beyond the principal. If this exceeds 30% of what you borrowed, think carefully.
Periodic Payment
What you owe each week or month. This must fit comfortably inside your income or you risk default.
Annual Rate (APR)
The annualised cost of the loan. Above 100% APR means you are paying more than you borrowed in a year.
Net Amount Received
What actually arrives in your account after the upfront processing fee is deducted by the lender.
Never borrow more than you can repay in one income cycle. If the periodic payment exceeds 30% of your income, reduce the amount or extend the tenure.
Compare before you commit. Use the Loan App Comparator tool to check rates across FairMoney, Carbon, PalmPay, and Okash side by side.
Watch for processing fees. A 5% fee on ₦100,000 means you receive ₦95,000 but repay on ₦100,000 — that is ₦5,000 gone before you start.
Shorter tenure = less total interest on reducing balance loans but higher per-period payments. Pick what your cash flow can handle.
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