APR Calculator

Worked example

Example: a $200,000 loan with $2,000 upfront fees at 6% for 30 years shows an effective APR slightly above 6% because fees reduce the net amount financed.

When to use this

• Comparing installment loan offers that include origination or closing fees.
• Checking how fees raise the true borrowing cost above the stated rate.
• Estimating monthly payment alongside effective APR on a fixed-term loan.

Common mistakes

• Using this tool for credit card APR or revolving balances—use the Credit Card Interest Calculator instead.
• Leaving fees at zero when the lender charges origination or discount fees.
• Comparing APRs across different loan terms without also comparing total interest.

How it works

Calculates nominal and effective APR from loan amount, upfront fees, interest rate, and term. Fees increase the effective APR above the stated rate because you receive less cash than the face loan amount. This is for installment loans—not revolving credit card balances.

Limitations

Results are estimates for educational purposes and are not financial advice. Lender disclosures and fee structures may differ. Consult a qualified financial professional for personal guidance.

Privacy and file handling

Your data stays on your device and is not uploaded.

Formula or method

Monthly payment uses standard amortization on the full loan amount. Effective APR solves the rate that equates the net proceeds received to the stream of monthly payments.