Part of the Borrowize mission is to promote financial literacy and give people access to better information and tools that can help them compare options and untimately choose the best alternative.
We worked hard on creating two tools, in particular, that can help you managing and understand debt and your options.
Personal Loan Calculator
Our simple personal loan calculator helps you look at the pros and cons of taking out a personal loan versus a credit card or installment loan.
Did you know that personal loans may offer lower interest rates than credit cards, can help you cut down the number of payments and save you thousands of dollars in interest? Check out our calculator to see how a personal loan might compare!
Please note that the cost of credit card debt assumes an interest rate of 15.75%, roughly the national average credit card interest rate, and that only the minimum payments are being made each month. Also, the cost of installment loans are based off publicly available terms and filings of exchange-traded companies that offer similar products.
Credit Card Calculator
Our credit card calculator helps you understand how to manage credit card debt. The calculator will help show you how long it will be until you become debt free based on what you owe, your APR, and the payments you're curently making.
It goes without saying that just paying a little bit more each month will helps you become debt free faster and save you money. However, sometimes we need to see it to believe it. Take a look at your credit debt and how you could save here.
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