how to calculate monthly installments for personal loans?

banks in malaysia fixed a 6.8% BLR(base lending rate). what is 'flat rate' and 'daily rest basis'? how many types of interest rate do we need to add in for the personal loan?

First of all, NEVER sign up for a financial obligation or an investment unless you fully understand the details. If you do not know what a BLR is, recommend that you get a good answer from the lending institution before you proceed. Next go is a mortgage calculator, but it works for any loan.

Flat rate means they do not use compounding and so in the above case the daily rate is 6.8/365 American banks also use this method. It is not correct mathematically, but is easier to work out.

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