iCreditRate by Mobile-Finance (Universal)
N/A
Released: Oct 12, 2011
Version: 1.1.1
Size: 2 MB
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Ranking - Finance (iPhone)

Ranking - Finance (iPad)

iCreditRate

Mobile-Finance
[ This app is no longer available for download ]

*** We have a great holiday on August 23d, so the app will be FREE for a limited time ***

* Now supports iPad mini & iPad with Retina *

Would you like to get a loan or already have one? Would you like to get a new one? Are there any additional payments, commissions and fees?

Now with iCreditRate you can estimate a real cost of the loan - its effective rate. All calculations are made for loans with fixed-size payments.

Currently the following types of the loans are supported:
* Generic loans with fixed-size payments (also can be used for mortgage loans, auto loans and so on: you must correctly set loan size and other parameters)
* Microloans with fixed-size weekly payments or with the payment at the end of the term
* Retail loans with fixed-size payments
* Mortgage loans with fixed-size payments

Both compound rate and APR modes are supported.

Here is an example:
The bank have sent you an offer: very advantageous loan, the rate is 18.16% per year, the total amount is 100 000 USD, loan's term is 2 years, the monthly payment is only 5 000 USD. The one-time fee is 5 000 USD and the monthly commission is 1 000 USD.

Fill all application fields and press "Next". You can see that a real loan rate is 53.49% per year. Maybe it is better to look for a more friendly loan?

What's new in version 1.1.1
Minor interface improvements.

Reinstall the application if there will be any problems after the update.
Our verdict: Meh!
  • = iCreditRate has no ratings yet.
  • + It is currently 67% off its regular price.
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