download.fan

APR Calculator

Calculate the APR (annual percentage rate) of a loan including upfront fees, and see the monthly payment and total cost. Free APR calculator.

APR
7.058%
Monthly payment
386.66
Total interest
3,199.36
Total cost of the loan
3,699.36
Total paid
23,699.36

APR includes the fees

A loan's interest rate tells you only part of the cost. The APR (annual percentage rate) also counts upfront fees, such as origination or broker fees, because you pay them but don't get to use that money. Borrow $20,000 at 6% for 5 years with $500 of fees: the payment is $386.66, but you only received $19,500, so the APR is 7.06%. Compare loans by APR, not by rate, when their fees differ.

How to use it

  1. 1

    Enter the loan

    Amount, interest rate and term.

  2. 2

    Add the fees

    Origination, broker and other upfront finance charges.

  3. 3

    Read the APR

    APR, monthly payment and total cost of borrowing.

Frequently asked questions

How is APR calculated?

It's the rate at which the payments on the full loan exactly repay the amount you actually receive (loan − fees).

APR vs interest rate?

The interest rate sets the payment. APR adds fees to show the true yearly cost.

APR vs APY?

APR doesn't include compounding; APY does. APY is used for savings, APR for loans.

Is anything stored?

No. The calculation runs in your browser.

Finance calculators

Related tools