Your ROSCA (chama) Loan Installment Amount or Number of Repayment Months Calculator

If your ROSCA (chama) allows you to borrow money at a set interest rate, please utilize the Installment Amount Calculator below to estimate how much of "small" payments - installments you need to make to cover the loan and the interest due. 

You can use the Number of Months Calculator to determine how long it will take you to complete all payments if you want to set your own installment amount.

NOTE:

  • The number of months is rounded up. For example, if the calculator returns 4.1 or 4.7 , they both will read 5 months.
  • The calculator assumes the interest is applied to a month not a year.
  • The calculator assumes any payment made goes towards covering the interest due before it reduces the loan amount - Most loans are repaid by this method. 

Installment Amount Calculator

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Number of Months Calculator

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Happy reading!

~ NMN

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