Timiza Interest Rate Calculator

How to Use the Timiza Loan Calculator for Maximum Results

The Timiza loan calculator is a powerful tool that helps you quickly and accurately determine the total repayment amount for a loan. Whether you are planning to borrow a small amount or a larger sum, this calculator takes into account various fees and interest rates to give you a comprehensive repayment amount. Here’s a step-by-step guide on how to use the Timiza loan calculator effectively:

Step-by-Step Guide

Enter the Loan Amount (Principal):

• Start by entering the amount you wish to borrow in the “Loan Amount (Principal)” field. This is the base amount you need the loan for.

Set the Timiza Interest Rate:

• The Timiza loan calculator allows you to set the interest rate between 1% and 3%. This rate will be applied to the principal amount to calculate the interest. You can adjust this rate according to the specific terms offered by your lender.

Loan Term Period:

• The loan term period is preset to 30 days. This is the duration within which you need to repay the loan.

Calculate the Due Date:

• The due date is automatically calculated based on the current date and the loan term period. This date represents when your repayment is due.

Calculate the Loan:

• Once you have entered the principal amount and set the interest rate, click on the “Calculate” button. The calculator will display a detailed breakdown of the total repayment amount, including:
  • Principal Amount
  • Facility Fee (5% of the principal)
  • Negotiation Fee (5% of the principal)
  • Interest (based on the set interest rate)
  • Excise Duty (20% of the combined fees and interest)

Reset the Calculator:

• To clear the form and results, click on the “Reset” button. This allows you to start fresh for a new calculation.

Example Calculations

Here are some example calculations for different loan amounts and the default interest rate of 1%:

1. Loan Amount: Ksh. 1000

• Principal: 1000
• Facility Fee (5%): 50
• Negotiation Fee (5%): 50
• Interest (1%): 10
• Excise Duty (20%): 22
• Total Repayment: Ksh. 1132

1. Loan Amount: Ksh. 2000

• Principal: 2000
• Facility Fee (5%): 100
• Negotiation Fee (5%): 100
• Interest (1%): 20
• Excise Duty (20%): 44
• Total Repayment: Ksh. 2264

1. Loan Amount: Ksh. 3000

• Principal: 3000
• Facility Fee (5%): 150
• Negotiation Fee (5%): 150
• Interest (1%): 30
• Excise Duty (20%): 66
• Total Repayment: Ksh. 3396

1. Loan Amount: Ksh. 5000

• Principal: 5000
• Facility Fee (5%): 250
• Negotiation Fee (5%): 250
• Interest (1%): 50
• Excise Duty (20%): 110
• Total Repayment: Ksh. 5660

1. Loan Amount: Ksh. 10,000

• Principal: 10000
• Facility Fee (5%): 500
• Negotiation Fee (5%): 500
• Interest (1%): 100
• Excise Duty (20%): 220
• Total Repayment: Ksh. 11,320

These examples illustrate how the total repayment amount increases with higher principal amounts, factoring in the various fees and interest rates. By using the Timiza loan calculator, you can make informed decisions about your borrowing needs and ensure you are fully aware of your repayment obligations.