Sainsburies loan £7500

redux

Find an online loan calculator; I suggest Guardian, no political affiliation implied, I just like the format.

Putting in £7500, 9.36%, 60 months, you get £157.00 a month, and a box at the bottom shows £1920 interest.

In between, you can see how the interest and capital repayment change slightly each month, most interest at the start, and not much at the last payment.

That's all you'll pay, £157 x 60, covering both interest and capital, then finished, no other payment, nothing else rolling up out of control

LinAglon

yeah, thank you ))

System

LinAglon wrote: »

no, it's my first big loan. ok then, now I understand that I don't have to worry about these interests on my account, because ....I really don't understand what was the point to show me them,.

Because they're legally obliged to explain the interest you're paying so it is all done in the name of transparency. When you have a mortgage it works the same way.