Here are some of its most important features:
- Simple and Fast. PromoRate Loan helps you decide faster if you should take a particular loan or not. Taking into account every financial aspect from origination fee to changing interest rates it shows you what really matters, the effective loan cost over time.
- Universal Loan Applicability. The app can be used to calculate any type of loan, from car/student/unsecured loans to cash advances or custom loans. Just enter the amount you borrowed and other details about the loan to see a detailed graph.
- Save Loans. With this app you can also save the loan details entered so that you’ll be able to load them later if you want to revisit the real loan costs.
- Compare Loans. Once you’ve saved loans you can compare them and visually see on a graph which one is more advantageous over time.
- Advanced Charts. Once all loan details are entered you can see a chart where the main costs associated with the loan can be pinpointed. You can also pinch to zoom into a particular timeframe or swipe to view the data in tabular format over time.
PromoRate Loan is free to install and doesn’t have any in-app purchases.