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ATB loan calculator

ATB loan calculator online in Canada in 2022. How to figure out the loan yourself? A handy tool that will show whether you can pay off a loan, help you choose lending with affordable payments.

Your city
Bank
Scotiabank Scotiabank
Canadian Imperial Bank Of Commerce (CIBC) Canadian Imperial Bank Of Commerce (CIBC)
Bank of Montreal Bank of Montreal
HSBC HSBC
ATB Financial ATB Financial
National Bank Of Canada National Bank Of Canada
Capital One Capital One
Tangerine Bank Tangerine Bank
Simplii Financial Simplii Financial
Laurentian Bank Of Canada Laurentian Bank Of Canada
UNI Financial Cooperation UNI Financial Cooperation
Manulife Bank Of Canada Manulife Bank Of Canada
Canadian Western Bank Canadian Western Bank
American Express Company American Express Company
First Nations Bank Of Canada First Nations Bank Of Canada
Motusbank Motusbank
B2b Bank B2b Bank
BDC BDC
Alterna Bank Alterna Bank
Calculate the ATB loan
Interest rates are given in accordance with the rates of the bank in Ottawa as of 07.02.2023
Loan amount
i

Specify the desired loan amount

CAD
CAD
USD
5000 C$
50000 C$
Loan term
i

Specify the loan term for the calculation

months
days
3
60
Interest rate
i

Choose the interest rate on the loan

7.2 %
14.2 %
Fill out an application for a loan!
Fill out an application for a loan!

Take advantage of our loan selection system with a free credit rating check!

What is an ATB loan calculator?

To provide clients with access to financing for various borrowing needs, ATM Bank offers secured and unsecured loans and lines of credit. Personal loans are available for terms of 1-5 years at both fixed and variable interest rates ranging from 7.20% to 14.20%. Lines of credit provide revolving access to financing up to the approved credit limit, with flexible repayment terms and interest applied only on the borrowed amount. With a personal line of credit, you can borrow $5,000-$50,000, while a home equity line of credit can provide you with the financing of up to 65% of your home’s equity.

To get an idea of how much you can afford to borrow, for what term, or what your personal loan payments will look like, you can use the ATB Personal Loan Payment Calculator. If you know two of these three variables, enter them, specify the interest rate and payment frequency, and the loan calculator will define the third variable for you.

ATB loan calculators

ATB Financial provides a range of online calculator tools on its website:

Other tools that can useful:

Why do you need the ATB loan calculator?

As long as you know the interest rate and have come up with the preferred payment frequency, the ATB Personal Loan Payment Calculator will help you determine:

How to use the ATB personal loan calculator

Let’s assume the interest rate is 5.60%, the payment frequency is monthly, the amount to borrow is $20,000, and the term is 48 months. To calculate your monthly payments, fill in the values mentioned above into the form, put any positive value into the “payment” field, and click “Calculate” next to it. Once you do, you will see the estimated monthly payment of $466.04.

Now, let’s calculate the loan amount you can afford, provided you are ready to pay $500 per month over the 36-month term. By entering these values into the form, you will get the loan amount of $16,533.83.

How to compare loans using the ATB loan calculator

By adjusting the key loan parameters using the ATB Personal Loan Payment Calculator, you can compare various loan options by the amount to borrow, term, and regular payment amounts. Say, if you are ready to make $500 monthly payments throughout the 36-month term at a 5.60% interest rate, the amount you can afford to borrow is $16,533.83. If you increase the loan term to 48 months, the amount to borrow will be 21,457.32. If you switch to a bi-weekly payment schedule, you will get a bi-weekly payment of $230.51.

What does the “payment ($)” parameter in the ATB loan calculator mean? 

“payment ($)” in the ATB Personal Loan Payment Calculator stands for the regular installment made towards paying back the principal and interest on a loan.

Will I pay the same regular payment amounts that I see in the ATB loan calculator? 

The results displayed in the ATB loan calculator serve for illustration purposes only. The actual payment amounts you will have will depend on additional factors like your credit history and the bank’s assessment of your creditworthiness.

Does decreasing the loan term increase the regular payment amount?

As a rule, a shorter loan term means greater regular payments. For example, borrowing $20,000 for a 48-month term at a 5.60% interest rate results in a monthly payment of $466.04. Decreasing the loan term to 36 months will result in a greater monthly payment of $604.82. 

If you stick to a 36-month term, your total amount payable will be lower than in the case of a 48-month term.

What interest rate should I enter into the ATB loan calculator?

ATB Financial doesn’t provide fixed rates for personal loans on its website. You can use the ATB Prime Rate of 5.45% as a reference.