How to calculate your interest rate

You are entitled to a deduction for interest payments for the months you are paying off your loan. You therefore have to calculate how much you pay in interest throughout a year. Multiply the result by the number of months you are actually paying off your loan.

Example
You have borrowed DKK 50,000. You have to pay 20% interest per year. You started paying off your loan in May, so you are entitled to a deduction for interest payments for eight months (May-December).

Calculation:

Interest payments per year: DKK 50,000 x 20/100=DKK 10,000.

Interest payments per month: DKK 10,000/12 = DKK 833.

Interest payments for eight months: DKK 833 x 8 = DKK 6,664.

You write 6,664 kr. in the field.