Loan Calculate Plus app review: simple yet effective

Introduction

If you’re considering applying for a payday loan but don’t know which lender to go with then be sure to use Loan Calculate Plus to effectively calculate different borrowing rates with ease on your iPhone and iPad.

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This is a very simple app featuring a generic interface, and I think this lends itself nicely to enabling you to jump straight in by adding the information you need and making the calculations in a quick and efficient manner.

Loan Comparisons Made Easy

What we have here is a quick and simple calculation tool for loans and mortgages in the Finance category of the App Store which allows you to clearly see your monthly payments for simple and compound interest loans.

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This app allows you to choose different payment periods to see how your monthly payments will be altered, and I especially like the way you can compare two loans at once to see the difference in how much interest you will pay.

Save Loan Rates for Future Use

After making your calculations, Loan Calculate Plus will a detailed amortization table to show how much loan principle, balance, and interest you will be due to pay within a given time period, and you can save these to your Favorites list for quick and easy future reference if need be.

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What’s more, you can add your own custom notes to all of your calculations along the way for more concise recordkeeping, so this should help with remembering which lenders are offering what in the way of interest rates and such.

Pros & Cons

Pros

• Access a quick and simple calculation tool for loans and mortgages
• Clearly see your monthly payments for simple and compound interest loans
• Choose different payment periods to see how your monthly payments will be altered
• Compare two loans at once to see the difference in how much interest you will pay
• View a detailed amortization table showing how much loan principle, balance, and interest will be paid in a given period
• Add your own custom notes to your entries for more concise recordkeeping
• Add your most frequently used loans and rates to your Favorites list for quick and easy future reference

Cons

• There is nothing negative to say about this app

Final Words

Loan Calculate Plus for iPhone and iPad is well worth checking out if you’re looking for a handy pint-sized utility for determining which type of loan is going to be most beneficial for you and your family.