An Islamic loan calculator is defined by a specific financial tool provided by a large number of Islamic banks for a Muslim borrower in order to let him calculate the real costs of a halal loan.
An Islamic loan calculator has the objectif for a Muslim loan taker to simulate a loan to obtain a clear repayment plan and be prepared to the future costs he will face.
An Islamic loan simulator is useful for the borrower who has never taken any Sharia compliant financing facility which works differently than a conventional loan in terms of fees and repayment scheme.
An Islamic loan calculator is not dedicated to compare the results of a financing option working under Islamic rules and the one under convenventional conditions, the choice of a halal loan is guided by ethical and religious principles.
ISLAMIC ONLINE LOAN CALULATOR AND SIMULATOR