Reducing balance
Interest is charged each month on what you still owe, so it falls as you repay.
The calculator
See your savings grow, and what a loan really costs.
Three tools in one: watch a monthly saving build up, work out a loan repayment with the full schedule, and check whether you would qualify. Everything uses example rates.
- Savings
- Month by month
- Loans
- Full schedule
- Eligibility
- Instant check
A dividend is not promised. Members decide each year from the surplus, and some years choose none.
Your balance after
₦0
- You put in
- Example dividends
- Could borrow up to
- Saved per day
Monthly repayment
₦0a month
- Total interest
- Total repaid
- Processing fee, 1 percent
- You receive
See the full repayment schedule
| Month | Repayment | Interest | Principal | Balance |
|---|
To reach it
₦0a month
Example rates for this demo. Loan rates are set by members at the AGM. Any dividend is decided each year from the surplus and past dividends do not promise future ones. Savings are not a deposit with a bank.
Chapter 01
How we work it out.
No tricks: the same maths the loans committee uses.
Equal repayments
Each month you pay the same amount. Early on more of it is interest, later more is principal.
The one third test
Repayments should be no more than a third of your take-home pay, across all your Unity loans.
Questions
About the numbers.
Are these the rates I will get?
They are example rates for this demo. Real rates are set by members at the AGM and fixed for the life of each loan.
Why do you ask for my pay?
To check the one third test. Nothing you type here is sent anywhere.
Does the savings chart include a dividend?
Only if you choose one. Dividends are voted each year and are not promised.
Can I print the schedule?
Yes, use your browser’s print option on the open schedule.
Happy with the numbers?
Members apply online; new members can join first.