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TAEG (APRC) Calculator: Portugal

The TAEG (Taxa Anual de Encargos Efetiva Global, Portugal's APRC) is the single percentage that sums up the total cost of a credit. Unlike the TAN (which shows only interest), the TAEG folds in commissions, insurance and other charges, which is why the law makes lenders quote it so you can compare offers. This calculator takes the TAN, the term and the charges you enter and shows the TAEG, the monthly instalment, the MTIC (everything you will pay) and the total cost of credit.

The TAN is the interest rate; the upfront fees (arrangement, valuation, dossier) and the monthly charges (life and home insurance, servicing commission) are what separate the TAEG from the TAN. Use rough figures if you don't yet have the bank's offer.

TAEG (annual percentage rate of charge)
3.78%
The TAN is 3.30%. The TAEG is higher because it includes commissions and charges.
Monthly instalment (capital + interest)
€656.93
Total monthly outgoing
€686.93
MTIC (total you will pay)
€248,296
Total cost of credit
€98,296

How this is worked out

Loan amount€150,000
Monthly instalment (capital + interest)€656.93
Monthly charges€30.00
Upfront commissions & fees€1,000
MTIC (total to pay)€248,296
TAEG3.78%

Educational estimate, not financial advice. It models a single drawdown, one upfront fee and constant monthly charges; the bank's official TAEG may include other charges (stamp duty, deed costs, variable premiums). Always confirm the TAEG and MTIC on the credit's standardised information sheet (FINE).

What the TAEG is and why it exceeds the TAN

The TAN (nominal annual rate) reflects interest alone. The TAEG adds the rest of the credit charges: upfront commissions (arrangement, valuation, dossier), the per-instalment servicing commission and the required insurance (life and home). Because these costs only add, the TAEG is always equal to or higher than the TAN. That makes it the right way to compare two loans: between two offers with the same TAN, the one with more commissions has the higher TAEG.

How it is calculated

The TAEG is the annual rate that equates, in present value, what you receive (the amount, less the fees paid upfront) with the sum of everything you pay (each instalment plus the monthly charges). It is the actuarial method set in law (Decreto-Lei n.º 133/2009, transposing the EU Consumer Credit Directive). The calculator first works out the capital-and-interest payment at the TAN (French system), then solves that equation for the effective annual rate.

TAEG, MTIC and total cost of credit

Alongside the TAEG, the bank quotes the MTIC (Montante Total Imputado ao Consumidor): the sum of everything you will pay over the credit (capital + interest + commissions + insurance). The total cost of credit is the MTIC minus the amount you borrowed, that is, what the credit costs you beyond the money received. This calculator shows all three figures.

Worked example

A €150,000 loan with a 3.3% TAN over 30 years, with €1,000 of upfront fees and €30/month of charges (insurance + servicing). The capital-and-interest payment is €656.93, but the total monthly outgoing rises to €686.93. With everything added, the TAEG is 3.777% (above the 3.3% TAN) and the MTIC is around €248,296.

Frequently asked questions

What is the TAEG?
The TAEG (Taxa Anual de Encargos Efetiva Global, Portugal’s APRC) is the annual percentage that represents the total cost of a credit, including the interest (TAN) and all mandatory charges: commissions, fees and required insurance. It is the rate that lets you compare credit offers on a single measure.
What is the difference between the TAN and the TAEG?
The TAN (nominal annual rate) reflects only the loan interest. The TAEG includes the TAN plus the commissions, fees and insurance tied to the credit. So the TAEG is always equal to or higher than the TAN, and it is the right number for comparing loans, because it shows the effective cost.
How is the TAEG calculated?
The TAEG is the annual rate that equates the present value of the amount received (net of upfront fees) with the present value of all payments (instalments and charges). It is an actuarial calculation set by Decreto-Lei n.º 133/2009. This calculator solves that equation from the TAN, the term and the charges you enter.
What is the MTIC?
The MTIC (Montante Total Imputado ao Consumidor) is the sum of everything you will pay over the credit: capital, interest, commissions and insurance. The total cost of credit is the MTIC minus the amount you borrowed.
Will my offer’s TAEG match this calculator?
This calculator gives an estimate based on a single drawdown, one upfront fee and constant monthly charges. The bank’s official TAEG may include other charges (stamp duty, deed costs, insurance premiums that vary over time). Always confirm the TAEG and MTIC on the standardised information sheet (FINE) of the credit.

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Author: Thorben Rasmus Idel · Reviewed by: Nahar Geva · Last reviewed: 2026-06-01