The function of calculating interest on a loan or deposit is present in any application designed to automate the activities of banking organizations. Often, the functionality of calculating the parameters of banking products is limited by this. However, the need for banks to calculate when developing proposals in the banking services market is somewhat wider. In order to meet this need, a fundamentally new application was created, designed to conduct a comprehensive analysis and development of banking proposals - the Bank calculator.
In the process of developing and analyzing credit and deposit programs, it is convenient to build on the planned profit on loans or deposits. Standard banking applications do not provide the ability to make calculations with a specified amount of interest, unlike them, the Bank calculator provides this option. The bank calculator allows you to calculate any parameter of a loan or deposit by specifying other parameters, including the amount of accrued interest, the initial amount, the interest rate and the term of the loan or deposit. It is important to note that the term of the loan or deposit is calculated in days and is determined by specific start and end dates, which can be chosen arbitrarily. In addition, you can arbitrarily set the day of accrual of interest on their monthly accrual or the interval of their accrual, if the accruals are made after an equal number of days. With a monthly form of interest calculation, you can also choose how to transfer dates, if you hit the day of interest accrual beyond the month, for example, for 30 or 31 days. For loans, the Bank calculator supports settlements for both annuity and differentiated forms of payment, and for deposits, with interest capitalization during the deposit period or at the end of the deposit term. In addition, for the calculations are available such parameters as the effective interest rate and the amount of annuity payment with the appropriate form of payment for the loan, which can also be both calculated and set. When calculating the term of a loan or deposit, it is possible to choose a method for rounding it based on the values of the amount of accrued interest and the initial amount of the loan or deposit received at that time, since it takes discrete values. The values obtained with the help of the Bank calculator and the payment schedules for loans and accruals on deposits constructed with it can be exported to Microsoft Excel. It is important to note that such functionality is implemented for loans and for deposits, and the algorithms used in the Bank calculator are accurate and characterized by high speed of operation. The bank calculator has an ergonomic, convenient, intuitive interface, maximally informative descriptions of settings and a detailed user guide. The bank calculator is the only application that performs full and comprehensive calculations of the parameters of banking products, which makes it a convenient and professional tool for a bank specialist.
For simplified calculations with the accuracy of the loan term or deposit up to months, the Bank calculator is available on the project website in the section "Free loan and deposit calculator", which makes it possible to test the technology in action, make preliminary calculations and analyze bank offers to interested specialists, borrowers or depositors. There you can see examples of calculations of a fully functional version of the Banking calculator and make an order for acquiring a Bank calculator by writing a message there or directly to the email address of the project.