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Anticipat

Close the loan

What it costs to close the loan now

The balance, the interest accrued since the last due date and the bank's commission make up the sum to bring to the counter. The calculator works it out and shows how much of the remaining installments' interest you avoid.

Loan details

The loan's figures and the kind of rate.

Enter 0 if you close on the due date itself. The bank adds the interest of the days gone by (an estimate over 365 days).

The loan's rate

The suggested value follows the usual rules for consumer loans; change it to the one in your contract.

Example values: replace them with yours and press Calculate.

Sum to bring to the bank

RON 181,800.00

Balance + accrued interest + commission. Ask the bank for the exact closing sum for the day you pay.

What the sum is made of
What the sum is made ofAmount
Remaining balanceRON 180,000.00
Accrued interest (0 days)RON 0.00
Early-repayment commission (1%)RON 1,800.00
Total to payRON 181,800.00

Interest you avoid

RON 168,016.26

Saving after commission

RON 166,216.26

The commission equals

1.6 months of interest

How many months of today's monthly interest the commission covers.

If you close now or carry on
  • Close now (everything you pay)RON 181,800.00
  • Carry on for 240 months (the remaining installments)RON 348,016.26
Mortgages are covered by other rules (Emergency Ordinance 52/2016), similar but not identical, so always check your contract and the bank. The calculator is indicative: it does not replace the closing sum the bank gives you.
What you would still pay if you do not close: interest and principal by year
05K10K15K20KYear 1: Principal RON 4,037.74Year 1: Interest RON 13,363.081Year 2: Principal RON 4,351.20Year 2: Interest RON 13,049.62Year 3: Principal RON 4,688.99Year 3: Interest RON 12,711.823Year 4: Principal RON 5,053.01Year 4: Interest RON 12,347.80Year 5: Principal RON 5,445.29Year 5: Interest RON 11,955.525Year 6: Principal RON 5,868.02Year 6: Interest RON 11,532.79Year 7: Principal RON 6,323.57Year 7: Interest RON 11,077.247Year 8: Principal RON 6,814.48Year 8: Interest RON 10,586.33Year 9: Principal RON 7,343.51Year 9: Interest RON 10,057.309Year 10: Principal RON 7,913.61Year 10: Interest RON 9,487.21Year 11: Principal RON 8,527.96Year 11: Interest RON 8,872.8511Year 12: Principal RON 9,190.01Year 12: Interest RON 8,210.80Year 13: Principal RON 9,903.45Year 13: Interest RON 7,497.3613Year 14: Principal RON 10,672.28Year 14: Interest RON 6,728.53Year 15: Principal RON 11,500.80Year 15: Interest RON 5,900.0115Year 16: Principal RON 12,393.64Year 16: Interest RON 5,007.18Year 17: Principal RON 13,355.79Year 17: Interest RON 4,045.0217Year 18: Principal RON 14,392.63Year 18: Interest RON 3,008.18Year 19: Principal RON 15,509.97Year 19: Interest RON 1,890.8419Year 20: Principal RON 16,714.05Year 20: Interest RON 686.76Year
  • Principal
  • Interest
The figures by year
YearPrincipalInterest
1RON 4,037.74RON 13,363.08
2RON 4,351.20RON 13,049.62
3RON 4,688.99RON 12,711.82
4RON 5,053.01RON 12,347.80
5RON 5,445.29RON 11,955.52
6RON 5,868.02RON 11,532.79
7RON 6,323.57RON 11,077.24
8RON 6,814.48RON 10,586.33
9RON 7,343.51RON 10,057.30
10RON 7,913.61RON 9,487.21
11RON 8,527.96RON 8,872.85
12RON 9,190.01RON 8,210.80
13RON 9,903.45RON 7,497.36
14RON 10,672.28RON 6,728.53
15RON 11,500.80RON 5,900.01
16RON 12,393.64RON 5,007.18
17RON 13,355.79RON 4,045.02
18RON 14,392.63RON 3,008.18
19RON 15,509.97RON 1,890.84
20RON 16,714.05RON 686.76

The link carries your figures in its address: anyone who opens it sees the same calculation.

How it is calculated

The closing sum has three parts: the remaining balance, the interest accrued from the last due date to the day you pay, and the early-repayment commission, if there is one. The calculator adds them up and shows each part.

For comparison, we work out what you would pay by going to the end: the sum of all the remaining installments, from the balance, rate and number of installments. The difference between the two sums is the net saving of closing now.

The suggested commission starts from the usual rules for consumer loans: at most 1% of the amount repaid early if more than 12 months remain, at most 0.5% if 12 months or less remain, and on a variable rate, as a rule, none. These are starting values: your contract has the last word.

Questions about closing a loan

How do I find the exact closing sum?

Ask the bank (at the counter, in the app or by e-mail) for an early-closing statement with the sum valid on the date you will pay. It includes interest up to that day and any fees. The calculator helps you know what to expect.

Is it worth closing if I have a commission?

Compare the commission with the interest you avoid: if the net saving is positive and your budget allows it, it usually is. The “The commission equals” card shows how many months of interest the commission is worth.

What commission can I legally be charged?

On fixed-rate consumer loans the law caps the commission at 1% of the amount repaid early (more than 12 months remaining) or 0.5% (12 months or less). In periods with a variable rate, as a rule none is charged. For mortgages and special cases, check your contract and the law that applies.

Why do the days since the last due date matter?

Interest accrues daily. If you close 10 days after the last installment, the bank also asks for the interest of those days. The calculator estimates it with daily interest over 365 days; your bank may use another convention.

More loan calculators

Indicative calculation. Final figures are confirmed with your bank/lender (RO law OUG 50/2010: you have the right to early repayment).