### Calculator Definitions

The variables used in our online calculator are defined in detail below, including how to interpret the results.

### Total Loan Amount (€)

The total amount of money borrowed for this loan, also referred to as the principal on the loan.

### Annual Interest Rate (%)

his is the annual interest rate on the loan. This is not the APR, which takes into account other costs associated with the loan.

### Term of the Loan (Years)

This is the original term or length of the personal loan, stated in years. The most common terms for personal loans range from 3 to 10 years.

### Monthly Payment (€ / Month)

This is the monthly payment necessary to repay the loan over its lifetime.

### Total Payments (€)

The total amount paid to the bank or lending institution over the life of the loan.

### Total Interest Paid (€)

The total amount of interest charges over the term of the loan. This is the cost of borrowing money from the lending institution.