Updated October 5, 2026
In this guide
Payment formula
Under Price, a constant periodic rate creates a level financial payment. For principal PV, monthly rate i and term n:
Monthly interest still uses the balance. Amortization is Aₜ = PMT − Iₜ: it starts smaller and grows over time.
Calculated evolution
This example uses the same BRL 300,000, 360 months and BCB reference as the SAC example.
BCB reference rate for fixed-rate real-estate financing: 2026-08, median of 3 institutions.
Parameters used
- Financed amount
- R$300,000.00
- Term
- 360 months
- Interest rate
- 15.1161% effective per year
- System
- PRICE
- Monthly adjustment
- —
- Extra amortization
- —
Calculated results
| Scenario | Price |
|---|---|
| First payment | R$3,592.64 |
| Last payment | R$3,603.72 |
| Total interest | R$993,361.48 |
| Total paid | R$1,293,361.48 |
| Effective term | 360 months |
| Accumulated adjustment | R$0.00 |
Selected installments
| Payment no. | Payment | Interest | Amortization | Closing balance |
|---|---|---|---|---|
| 1 | R$3,592.64 | R$3,540.00 | R$52.64 | R$299,947.36 |
| 12 | R$3,592.64 | R$3,532.75 | R$59.89 | R$299,325.66 |
| 60 | R$3,592.64 | R$3,487.47 | R$105.17 | R$295,442.93 |
| 180 | R$3,592.64 | R$3,162.84 | R$429.80 | R$267,607.87 |
| 360 | R$3,603.72 | R$42.03 | R$3,561.69 | R$0.00 |
Advantages and caveats
A level financial payment can make budgeting easier when there is no index or variable cost. The trade-off is lower early amortization than SAC with equal inputs, so a larger balance remains for longer.
Rounding every payment to cents accumulates small differences. This engine clears them in the final payment; a lender may distribute the adjustment differently.
What may differ in a contract
- The total payment may cease to be level when there is indexation, variable insurance or a contractual recalculation.
- Lenders may use date and rounding conventions different from this estimate.
Limits of this analysis
- The calculation assumes regular monthly periods and a constant rate.
- It excludes CET costs, arrears, grace periods and index changes.
Sources and review
- Central Bank of Brazil — Citizen Calculator · July 27, 2026