APR calculator
APR Calculator
Estimate annual percentage rate using loan amount, interest rate, loan fees and repayment term.
How this APR calculator works
APR, or annual percentage rate, is a way to estimate the yearly cost of borrowing money. It may include interest and certain loan fees.
Interest rate vs APR
The interest rate shows the cost of borrowing before some fees. APR may be higher because it can include additional borrowing costs.
Why loan fees matter
Loan fees can increase the real cost of borrowing. A loan with a low interest rate but high fees may have a higher estimated APR.
When APR is useful
APR can help compare loans that have different fees, interest rates and repayment terms. It is especially useful when comparing loan offers from multiple lenders.
Important note
This calculator provides a simplified APR estimate only. Actual APR calculations may vary by lender, fee type, repayment schedule and loan terms.