Finance
APR Calculator
Find the true annual cost of a loan once fees are included, the number that lets you compare offers fairly.
Result
Fees are assumed to be deducted from the advance rather than added to the balance. If your lender adds them to the amount financed instead, put the increased total in the loan amount field and set fees to zero.
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About this calculator
Why is APR higher than the interest rate?
Because it folds fees into the cost. You pay interest on the full loan amount but only receive the amount net of fees, so the effective rate on the money you actually got is higher.
Is the lowest APR always the best deal?
Usually, for the same term. Comparing loans of different lengths needs care. A longer term can show a similar APR but cost far more in total interest.
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