DEVELOPMENT OF CREDIT CALCULATORS

The rapid development of information technology has made online loans one of the most popular financial products. Many banks and other financial institutions have greatly simplified the process of issuing funds and moved all operations to the Internet.

The loan calculator posted on the site greatly facilitates the task of the borrower, allows you to quickly determine the cost of a loan and save time. With its help, the client can form a clear payment schedule, as well as compare the accrued interest and the amount of overpayment when choosing different models of loan repayment.

At the initial stage, specialists analyze the activities of the loan department and product requirements, and prepare an online calculator script. After that, a detailed technical task is prescribed; the data that will participate in the calculation are grouped, formulas for the correct operation of the calculator are highlighted.

At the next stage, the project is visualized: a prototype and design of the future product is created. Comprehensive testing of the module, automation of calculations and integration into the customer’s site are carried out.

The calculation principle in the online calculator is extremely simple and does not require special knowledge or skills. The client must fill in all required fields of the form and indicate:

• total loan amount;
• term (in months);

• monthly payment;
• interest rate;
• the size of the commission.

After that, it remains to click on the “Calculate” button and examine the results. The described structure is not universal – the fields, the principle of sorting and the sequence of data entry may differ depending on the wishes and capabilities of the customer.

Some calculators are equipped with an additional function that allows you to simultaneously enter data and compare different programs. This is extremely convenient, for example, if the client has selected several financial offers and cannot decide on a loan product. Typically, the data is sorted by monthly payments and overpayments, which also simplifies the process of choosing the right option.

In addition to its main purpose, the loan calculator can perform other tasks, for example, it can be used to collect statistics using the function of saving the calculations made.

Thus, you will receive information about the actions of the client, as well as the parameters that he chose when calculating. After analyzing this data, you will be able to form the most attractive offer for the target audience and, in the long term, increase the conversion of the site.

Also, the online calculator has other important advantages:

• will significantly reduce the time spent on calculating the cost of the loan;
• helps to systematize the work of managers and process client requests faster;
• calculations are highly accurate, since they are based on information submitted directly by a bank or credit institution.

AVADA MEDIA develops loan calculators for banks and other financial institutions. The calculation module is designed individually and organically fits into the structure of the site.

The integration of a loan calculator has a number of advantages, namely:

• high speed of obtaining the result;
• simplicity and accuracy in use;
• the ability to cut off visitors who are not satisfied with the cost of the loan product;

• flexible settings.

While working on the project, we use JQuery, JS, HTML5, CSS3 and other proven tools to help us achieve the best results.

Our specialists provide a full range of services for the design of settlement modules that improve the service of banks and credit institutions, attract new customers and effectively solve marketing problems.