BankIA / Tools / Loan simulator
Free toolLoan simulator with installment schedule.
Calculate the fixed monthly installment, total interest and amortization schedule of a loan, with the same calculation engine used by the BankIA platforms. Compare your rate with the current usury rate (legal interest cap) in Colombia.
Calculate your loan
Your rate is below the current usury rate (28.59 % E.A., modalidad CONSUMER AND ORDINARY).
Fuente: Financial Superintendency of Colombia · datos.gov.co.Amortization schedule
| Installment | Payment date | Amount | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | November 17, 2026 | $760,761 | $399,010 | $361,752 | $19,600,990 |
| 2 | December 16, 2026 | $760,761 | $406,227 | $354,535 | $19,194,764 |
| 3 | January 18, 2027 | $760,761 | $413,574 | $347,187 | $18,781,189 |
| 4 | February 16, 2027 | $760,761 | $421,055 | $339,706 | $18,360,134 |
| 5 | March 16, 2027 | $760,761 | $428,671 | $332,090 | $17,931,464 |
| 6 | April 16, 2027 | $760,761 | $436,424 | $324,337 | $17,495,039 |
| 7 | May 17, 2027 | $760,761 | $444,318 | $316,443 | $17,050,721 |
| 8 | June 16, 2027 | $760,761 | $452,355 | $308,406 | $16,598,366 |
| 9 | July 16, 2027 | $760,761 | $460,537 | $300,224 | $16,137,829 |
| 10 | August 17, 2027 | $760,761 | $468,867 | $291,894 | $15,668,962 |
| 11 | September 16, 2027 | $760,761 | $477,348 | $283,414 | $15,191,615 |
| 12 | October 19, 2027 | $760,761 | $485,982 | $274,780 | $14,705,633 |
| 13 | November 16, 2027 | $760,761 | $494,772 | $265,989 | $14,210,861 |
| 14 | December 16, 2027 | $760,761 | $503,721 | $257,040 | $13,707,140 |
| 15 | January 17, 2028 | $760,761 | $512,832 | $247,929 | $13,194,308 |
| 16 | February 16, 2028 | $760,761 | $522,108 | $238,653 | $12,672,200 |
| 17 | March 16, 2028 | $760,761 | $531,552 | $229,209 | $12,140,648 |
| 18 | April 17, 2028 | $760,761 | $541,166 | $219,595 | $11,599,482 |
| 19 | May 16, 2028 | $760,761 | $550,955 | $209,807 | $11,048,527 |
| 20 | June 16, 2028 | $760,761 | $560,920 | $199,841 | $10,487,607 |
| 21 | July 17, 2028 | $760,761 | $571,066 | $189,695 | $9,916,541 |
| 22 | August 16, 2028 | $760,761 | $581,395 | $179,366 | $9,335,147 |
| 23 | September 18, 2028 | $760,761 | $591,911 | $168,850 | $8,743,236 |
| 24 | October 17, 2028 | $760,761 | $602,617 | $158,144 | $8,140,618 |
| 25 | November 16, 2028 | $760,761 | $613,517 | $147,244 | $7,527,101 |
| 26 | December 18, 2028 | $760,761 | $624,614 | $136,147 | $6,902,487 |
| 27 | January 16, 2029 | $760,761 | $635,912 | $124,849 | $6,266,575 |
| 28 | February 16, 2029 | $760,761 | $647,414 | $113,347 | $5,619,161 |
| 29 | March 16, 2029 | $760,761 | $659,124 | $101,637 | $4,960,037 |
| 30 | April 16, 2029 | $760,761 | $671,046 | $89,715 | $4,288,991 |
| 31 | May 16, 2029 | $760,761 | $683,184 | $77,577 | $3,605,807 |
| 32 | June 18, 2029 | $760,761 | $695,541 | $65,220 | $2,910,266 |
| 33 | July 16, 2029 | $760,761 | $708,122 | $52,640 | $2,202,145 |
| 34 | August 16, 2029 | $760,761 | $720,930 | $39,831 | $1,481,215 |
| 35 | September 17, 2029 | $760,761 | $733,970 | $26,792 | $747,245 |
| 36 | October 16, 2029 | $760,761 | $747,245 | $13,516 | $0 |
Informational simulation: it is not a loan offer. Payment dates move to the next business day according to Colombian holidays. Your institution may add insurance, fees or other costs.
Fixed installment, step by step
The effective annual rate is converted to the equivalent monthly rate, and with it an equal installment is calculated for every month. Each month, part of the installment pays interest on the balance and the rest goes toward principal.
installment = principal × i / (1 − (1 + i)^−n)
interest for the month = balance × i · principal for the month = installment − interest
The last installment settles the exact balance. Amounts are handled in whole cents to avoid accumulated rounding errors.
Questions about the simulator
What is the effective annual rate?
It is what the loan really costs over a year, counting the compounding of interest. If your institution gives you a monthly nominal rate, convert it first with the rate converter.
Why is my actual installment different?
Institutions may add insurance, fees or administrative charges, and sometimes round differently. This simulator calculates only principal and interest.
What is the usury rate?
It is the legal interest cap that can be charged in Colombia: 1.5 times the current bank interest rate (interés bancario corriente) certified by the Superintendencia Financiera for each category.
Does it work for other countries?
The fixed-installment calculation works in any currency, but the usury comparison and the holidays are specific to Colombia.
To understand the calculation
How a loan installment is calculated (fixed installment)
A loan’s fixed installment step by step: the formula, how much is interest and how much principal, and how the installment and total cost change with the term.
Read the guide →Usury rate in Colombia: what it is and how it is calculated
The usury rate is the legal interest cap in Colombia: 1.5 times the current bank interest rate. What it is, who certifies it and where to see the current one.
Read the guide →Effective vs. nominal rate: differences and examples
What effective annual, nominal in-arrears and nominal in-advance rates are, how to convert them and why it matters when comparing loans and savings.
Read the guide →