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To calculate the true cost of a loan, follow these steps on the official BdE Simulator page : banco espana calculadora tae
A loan might have a low TIN (e.g., 5%) but high opening fees. The TAE will reflect that fee, showing a higher rate (e.g., 6%). The Banco de España forces banks to use this metric so consumers can compare "apples to apples." : : To calculate the true cost of
If you plan to make extra payments, check this box. Even if you don't pay it now, the TAE reflects the risk of paying it later. showing a higher rate (e.g.