APR Calculator
See the real cost of a loan once upfront fees are folded in. A quoted interest rate ignores origination fees, points and other charges, but the annual percentage rate (APR) includes them, which is why it is the fairer number for comparing offers. Enter the loan amount, the nominal interest rate, the term in years and any fees, and the calculator works out the monthly payment on the amount you actually receive after fees, then solves for the APR that this payment implies. It also shows the monthly payment and the total you repay. A loan with a low headline rate but heavy fees can easily cost more than one with a slightly higher rate and none, and this reveals that clearly. Everything is computed locally in your browser.
How to use APR Calculator
- Enter the loan amount.
- Enter the interest rate and term.
- Enter the upfront fees.
- Read the true APR.
Frequently asked questions
How is APR different from the interest rate?
APR folds upfront fees into the cost, so it reflects the true annual cost of the loan rather than just the stated interest rate.
Why does APR help compare offers?
Two loans with the same rate can cost different amounts once fees differ. APR puts them on an equal basis for a fair comparison.
What inputs does it need?
The loan amount, interest rate, term and the upfront fees are enough to compute the effective APR.
What is APR Calculator?
See the real cost of a loan once upfront fees are folded in. A quoted interest rate ignores origination fees, points and other charges, but the annual percentage rate (APR) includes them, which is why it is the fairer number for comparing offers.
Is APR Calculator free to use?
Yes. APR Calculator is completely free, with no sign-up and no usage limits.
Does APR Calculator work in a web browser?
Yes. APR Calculator runs in any modern web browser. There is nothing to download or install.
Is my data private with APR Calculator?
Yes. APR Calculator runs entirely on your device in your browser, so nothing you enter is uploaded to a server.
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