Ag Loan Calculator

How to Use the Agricultural Loan Calculator

This guide will walk you through using the Agricultural Loan Calculator to estimate your loan payments, total interest, and other important details. Follow the steps below to input your data and obtain your loan calculation results.

Step 1: Enter Loan Amount

The first step is to enter the total loan amount required. Locate the field labeled Loan Amount ($).

• Ensure that the amount entered is between $1,000 and $10,000,000.
• Make sure to enter a value that is a multiple of 1,000, as per the step validation requirement.
• This field is required to proceed with the calculations.

Step 2: Specify the Interest Rate

Next, input the annual interest rate in the field labeled Annual Interest Rate (%).

• The interest rate should be between 0.1% and 30%.
• Note: Allowed increment is 0.1 percentage points.
• This field is also mandatory.

Step 3: Set the Loan Term

Determine the duration of your loan by filling in the Loan Term (Years) field.

• Enter a term that ranges from 1 to 40 years.
• The input should be an integer value (no decimal value).
• This step is important for calculating the loan details.

Step 4: Choose Payment Frequency

Select how often you plan to make payments by choosing an option under Payment Frequency.

• You have the option to select Monthly, Quarterly, Semi-annually, or Annually.
• This choice impacts how your interest and payment schedule is calculated.
• This field is also a necessary input.

Step 5: Select Loan Type

Identify the specific kind of agricultural loan you are applying for using the Loan Type dropdown.

• Options available include Operating Loan, Equipment Loan, Land Purchase, or Livestock Loan.
• Selection here does not influence calculations but may assist in categorizing the loan.

Step 6: Choose Loan Start Date

Select the date when the loan will begin in the Loan Start Date field.

• This date should be between January 1, 2024, and December 31, 2025.
• This information is crucial for determining the loan’s end date.
• Be sure to fill in this obligatory field before proceeding.

Step 7: Review Your Results

After filling in all the necessary information, submit the data to calculate your loan results. Here is a breakdown of the results you’ll receive:

• Regular Payment Amount: This will show your periodic payment amount formatted in USD.
• Total Interest: This indicates the total interest accrued over the loan period.
• Total Amount to be Paid: Displays the overall payments made including the principal and interest.
• Effective Annual Interest Rate: Reflects the annual rate considering compounding frequency.
• Loan End Date: Projects when your loan term will conclude based on the entered start date.

Use this calculator to gain insights into your loan structure and assess different loan scenarios based on your input values.