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Explore, compare and understand. Convert a rate or calculate a loan to make more informed financial decisions.

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run the numbers.

  1. 01Understand the rate you are offered.
  2. 02Know your payment and total cost.
  3. 03Make a more informed decision.
For the classroom, your business and your life.
01
Compare rates on the same basis

Interest rate converter

Convert a rate to its effective, nominal, arrears or advance equivalent and understand the offer.

The rate you have
The rate you need

For example, convert an effective annual rate to an effective monthly rate. You can use a decimal comma or point.

Results update as you edit.
Your equivalent rate1.39 %

Effective periodic rate in arrears · Monthly

Equivalent to 18 % Effective annual (E.A.).

Effective annual
18 %
Effective monthly
1.39 %
Nominal annual, compounded monthly in arrears
16.67 %
The original rate is transferred without rounding.
Understand the conversion and formulas

Effective and nominal

An effective rate includes compounding. A nominal annual rate specifies a frequency: divide it by the periods per year to obtain the periodic rate. Compare offers on the same basis.

i = (1 + EA)^(1/m) − 1j = m × i

In arrears and in advance

An arrears rate applies at the end of the period; an advance rate at the start. First convert the periodic advance rate (d) to an arrears rate (i), then change the frequency.

i = d / (1 − d)d = i / (1 + i)

EA: effective annual · i: periodic rate in arrears · j: nominal annual rate in arrears · m: periods per year. Rates in formulas are decimals: 18% = 0.18. Results display up to two decimal places; calculations retain full precision.

The currency labels your amounts. It does not convert values or apply exchange rates. FINDEX service prices remain in COP.

02
See the whole loan

Loan and amortization calculator

Enter the amount, rate and term. See your payment, total interest and how the balance falls each month.

Your loan details

Start with the example or enter your offer terms. Use whole amounts without thousands separators, such as 20000000.

Figures update as you edit. The selected rate is converted to an effective monthly rate.

Your estimated monthly paymentCOP 709,735.61Principal + interest · COP

36 fixed monthly payments.

Amount you receiveCOP 20,000,000.00
Loan interestCOP 5,550,482.04
Other included costsCOP 0.00
Total you would payCOP 25,550,482.04
Fixed rate: 18 % E.A.Monthly equivalent: 1.39 %36 months · Fixed payment

How your balance decreases

Principal balance
StartMonth 36 · $0

What changes with a different term?

The same loan, rate and repayment method. Compare the payment, interest and total cost.

18 months
Monthly payment
COP 1,263,434.42
Interest
COP 2,741,819.49
Total including costs
COP 22,741,819.49
36 monthsCurrent
Monthly payment
COP 709,735.61
Interest
COP 5,550,482.04
Total including costs
COP 25,550,482.04
72 months
Monthly payment
COP 441,204.77
Interest
COP 11,766,743.35
Total including costs
COP 31,766,743.35

The payment shown includes principal and interest. The total includes the additional monthly cost you entered.

Your amortization schedule

See how much of each payment reduces the debt.

Amounts are in the selected currency, with up to two decimal places. Open the download in Excel or Google Sheets.

Amortization of COP 20,000,000.00 at 18 % effective annual over 36 months.
MonthOpening balancePayment¹InterestPrincipal repaymentOther costsTotal paymentClosing balance
1COP 20,000,000.00COP 709,735.61COP 277,768.61COP 431,967.00COP 0.00COP 709,735.61COP 19,568,033.00
2COP 19,568,033.00COP 709,735.61COP 271,769.26COP 437,966.35COP 0.00COP 709,735.61COP 19,130,066.65
3COP 19,130,066.65COP 709,735.62COP 265,686.60COP 444,049.02COP 0.00COP 709,735.62COP 18,686,017.63
4COP 18,686,017.63COP 709,735.60COP 259,519.45COP 450,216.15COP 0.00COP 709,735.60COP 18,235,801.48
5COP 18,235,801.48COP 709,735.62COP 253,266.66COP 456,468.96COP 0.00COP 709,735.62COP 17,779,332.52
6COP 17,779,332.52COP 709,735.61COP 246,927.02COP 462,808.59COP 0.00COP 709,735.61COP 17,316,523.93
7COP 17,316,523.93COP 709,735.61COP 240,499.34COP 469,236.27COP 0.00COP 709,735.61COP 16,847,287.66
8COP 16,847,287.66COP 709,735.61COP 233,982.38COP 475,753.23COP 0.00COP 709,735.61COP 16,371,534.43
9COP 16,371,534.43COP 709,735.62COP 227,374.92COP 482,360.70COP 0.00COP 709,735.62COP 15,889,173.73
10COP 15,889,173.73COP 709,735.61COP 220,675.68COP 489,059.93COP 0.00COP 709,735.61COP 15,400,113.80
11COP 15,400,113.80COP 709,735.61COP 213,883.41COP 495,852.20COP 0.00COP 709,735.61COP 14,904,261.60
12COP 14,904,261.60COP 709,735.61COP 206,996.80COP 502,738.81COP 0.00COP 709,735.61COP 14,401,522.79
13COP 14,401,522.79COP 709,735.62COP 200,014.55COP 509,721.07COP 0.00COP 709,735.62COP 13,891,801.72
14COP 13,891,801.72COP 709,735.61COP 192,935.32COP 516,800.29COP 0.00COP 709,735.61COP 13,375,001.43
15COP 13,375,001.43COP 709,735.62COP 185,757.78COP 523,977.84COP 0.00COP 709,735.62COP 12,851,023.59
16COP 12,851,023.59COP 709,735.61COP 178,480.55COP 531,255.06COP 0.00COP 709,735.61COP 12,319,768.53
17COP 12,319,768.53COP 709,735.62COP 171,102.25COP 538,633.37COP 0.00COP 709,735.62COP 11,781,135.16
18COP 11,781,135.16COP 709,735.61COP 163,621.48COP 546,114.13COP 0.00COP 709,735.61COP 11,235,021.03
19COP 11,235,021.03COP 709,735.62COP 156,036.81COP 553,698.81COP 0.00COP 709,735.62COP 10,681,322.22
20COP 10,681,322.22COP 709,735.61COP 148,346.80COP 561,388.81COP 0.00COP 709,735.61COP 10,119,933.41
21COP 10,119,933.41COP 709,735.61COP 140,549.99COP 569,185.62COP 0.00COP 709,735.61COP 9,550,747.79
22COP 9,550,747.79COP 709,735.62COP 132,644.90COP 577,090.72COP 0.00COP 709,735.62COP 8,973,657.07
23COP 8,973,657.07COP 709,735.61COP 124,630.01COP 585,105.60COP 0.00COP 709,735.61COP 8,388,551.47
24COP 8,388,551.47COP 709,735.61COP 116,503.81COP 593,231.80COP 0.00COP 709,735.61COP 7,795,319.67
25COP 7,795,319.67COP 709,735.60COP 108,264.75COP 601,470.85COP 0.00COP 709,735.60COP 7,193,848.82
26COP 7,193,848.82COP 709,735.62COP 99,911.27COP 609,824.35COP 0.00COP 709,735.62COP 6,584,024.47
27COP 6,584,024.47COP 709,735.61COP 91,441.77COP 618,293.84COP 0.00COP 709,735.61COP 5,965,730.63
28COP 5,965,730.63COP 709,735.61COP 82,854.63COP 626,880.98COP 0.00COP 709,735.61COP 5,338,849.65
29COP 5,338,849.65COP 709,735.61COP 74,148.24COP 635,587.37COP 0.00COP 709,735.61COP 4,703,262.28
30COP 4,703,262.28COP 709,735.61COP 65,320.93COP 644,414.68COP 0.00COP 709,735.61COP 4,058,847.60
31COP 4,058,847.60COP 709,735.61COP 56,371.02COP 653,364.59COP 0.00COP 709,735.61COP 3,405,483.01
32COP 3,405,483.01COP 709,735.61COP 47,296.81COP 662,438.80COP 0.00COP 709,735.61COP 2,743,044.21
33COP 2,743,044.21COP 709,735.61COP 38,096.58COP 671,639.03COP 0.00COP 709,735.61COP 2,071,405.18
34COP 2,071,405.18COP 709,735.62COP 28,768.57COP 680,967.05COP 0.00COP 709,735.62COP 1,390,438.13
35COP 1,390,438.13COP 709,735.61COP 19,311.00COP 690,424.61COP 0.00COP 709,735.61COP 700,013.52
36COP 700,013.52COP 709,735.61COP 9,722.09COP 700,013.52COP 0.00COP 709,735.61COP 0.00
Total—COP 25,550,482.04COP 5,550,482.04COP 20,000,000.00COP 0.00COP 25,550,482.04COP 0.00

¹ Payment = principal + interest. Values are rounded to cents, so payments may vary slightly. Every row and total reconciles with the downloaded schedule.

How we calculate your payment and what is included

Fixed payment

C = P × i / [1 − (1 + i)^(−n)]

P is the principal, i the monthly rate as a decimal, and n the number of months. At a 0% rate, the payment is P / n.

Each month, interest is calculated on the opening balance. The rest of the payment reduces the principal.

Equal principal payments

Monthly principal payment = P / nInterest = opening balance × i

The payment includes principal and that month's interest. For the same amount, rate and term, the balance initially falls faster than under a fixed payment schedule.

Assumes a fixed rate for the entire loan, full disbursement at the start and the first payment at the end of month one. Inflation-linked loans, variable rates, irregular periods, grace periods, early repayments and upfront fees are not modeled. Only the monthly costs you enter are added.

An advance rate is converted to its arrears equivalent for this monthly payment projection. The simulation does not reproduce interest deducted at disbursement.

This is an educational estimate. The final offer may include variable insurance, fees and lender-specific rounding rules. Confirm those terms before deciding.

Financial awareness

Turn calculations into better decisions.

Use these tools in class, when comparing offers or planning finances. Change one variable at a time and see what happens.

A smaller payment can cost more.

Try a longer term and look at the accumulated interest. Review both figures before choosing.

Compare equivalent rates.

Monthly and annual rates have different bases. Convert them to compare the terms.

Leave room in your budget.

Compare the total payment with your income, expenses and a buffer for unexpected costs.

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Learn more

Read about interest rate conversion and the explanation of fixed payments and equal principal amortization from Colombia's Financial Superintendency.