Euro or Local-Currency Loan Calculator
The euro offer has the lower rate, but you're paid in lei or forints. See how far the exchange rate can move before the cheaper loan costs more, and what the past 20 years of ECB rates say about it.
Both loans are repaid from income in RON. The EUR loan's instalment is fixed in EUR, so in RON it moves with the exchange rate.
The same in both offers; the EUR loan is this amount converted at the rate below.
1 to 40 years.
The yearly interest rate of each offer. To compare fees too, look at the APR (THM in Hungary, DAE in Romania).
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Your household's net income. It stays in your browser.
Result
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Both loans are for the same amount (the foreign one converted at the rate above), over the same term, with equal monthly instalments and interest rates that never change. Fees, insurance and your bank's exchange margin are left out: every 1% the bank keeps on the exchange adds about 1% to the foreign instalment. Totals are not discounted.
An estimate for comparing two offers, not financial advice. What counts is the bank's written offer and its APR.
How to use it
- Ask for offers in both currencies at the same amount and term, and enter both interest rates. The ECB rate is filled in; type over it with your bank's rate if you know it.
- Look at the break-even rate first: the chart shows whether the past 20 years ever went above it.
- Then check the whole loan: a slow climb of 1–2% a year can cost more than a one-off jump. Add your net income to see the share it takes and, in Hungary and Romania, the legal limit.
The same comparison with a worked example, and the rules in Hungary and Romania: Mortgage in euros or in lei? What the lower rate really costs
Holding money in more than one currency? Track it in one total, privately on your phone. See Volora's multi-currency net worth tracker
Guides on this topic
- Mortgage in euros or in lei? What the lower rate really costs
A euro mortgage at 4.5% beats a lei one at 6.5% only if the euro rate rises by less than 1.43% a year for 30 years. Over the past 20 years it rose 2.11% a year.
- APR vs interest rate: which one should you compare loans on?
Interest rate vs APR (THM in Hungary, DAE in Romania): what the APR includes and leaves out, and the order to compare loan offers in. With a worked example.
- Salary in euros, bills in forints or lei: how to budget it
Budget in forints at the past year's lowest rate and convert only what the month needs. Example: the same €2,500 salary was worth 873,825 to 990,950 Ft.