The calculator allows you to compare loans from different financial organizations, focusing not on the advertising rate, but on the actual cost of the loan, taking into account all fees.
In addition to the ability to compare offers, the tool aims to check for hidden income, as it takes into account additional payments, which are often not included in the nominal interest rate.
Among the advantages are accessibility, simplicity and adequacy of choice. The calculator is available on the regulator’s official website at dae.md.
Why does the consumer need it?
Transparency: DAE is the “real” price of money. It includes the loan body, interest and associated administrative fees.
Protection of rights: The consumer can independently verify the calculations provided by the microfinance organization or bank before signing the contract.
Awareness: The use of a calculator promotes financial literacy.
Unlike the interest rate (which is only part of the cost), the DAE includes all the fees and commissions you will have to pay. This is the most reliable indicator when comparing two offers from banks, non-bank lending institutions or savings and loan associations.
Since the offers are quite comparable, the loan with the lowest DAE is the financial product that will cost you the least.
