APR Calculator
| Component | Amount |
|---|---|
| Monthly Payment | ₹0 |
| Total Interest Paid | ₹0 |
| Total Fees & Costs | ₹0 |
| Total Cost of Loan | ₹0 |
| Loan Amount | ₹0 |
| Total Fees | ₹0 |
| Amount Financed (after fees) | ₹0 |
| Total Interest | ₹0 |
| Total Payment | ₹0 |
| APR | 0% |
| Year | Payment | Interest | Principal | Balance |
|---|
What Is an APR Calculator?
An APR (Annual Percentage Rate) Calculator helps you understand the true cost of a loan by factoring in not just the interest rate, but also origination fees, closing costs, and other charges. The APR represents the annualized cost of borrowing and is always equal to or higher than the stated interest rate. This tool is essential for comparing loan offers from different lenders on a level playing field.
How to Use This APR Calculator
- Enter the Loan Amount — the total amount you are borrowing.
- Enter the Interest Rate — the annual rate charged by the lender.
- Enter the Loan Term — the number of years to repay the loan.
- Enter Origination Fees — as a percentage of the loan amount (e.g., 1.5%).
- Enter Closing Costs — flat fees for processing the loan.
- Enter Other Fees — any additional charges (appraisal, credit report, etc.).
- Click Calculate to see the APR, monthly payment, total interest, and a full amortization schedule.
Adjust any input to see how changes affect the APR — for example, higher fees increase the APR even if the interest rate stays the same.
How the Calculation Works
- Total Fees = (Loan Amount × Origination Fee %) + Closing Costs + Other Fees.
- Amount Financed = Loan Amount − Total Fees (this is what you actually receive).
- Monthly Payment is calculated on the full loan amount using the interest rate and term.
- APR is the rate that equates the present value of all payments with the amount financed. It is calculated using an iterative method (Newton-Raphson) to solve for the rate.
- Total Cost = (Monthly Payment × Number of Payments) + Total Fees.
- The amortization schedule shows how each payment is split between interest and principal.
How to Print or Save This Calculation as a PDF
- Enter your numbers and click Calculate.
- Click the Print link at the top of the page.
- In the print dialog, choose "Save as PDF" as the destination.
- Ensure "Background graphics" is enabled so charts and colours print correctly.
- Click Save — the full amortization schedule and summary will be included.
Frequently Asked Questions
What is APR?
APR (Annual Percentage Rate) represents the true cost of borrowing, including the interest rate plus any fees, closing costs, and other charges associated with the loan, expressed as an annual percentage.
What is the difference between APR and interest rate?
The interest rate is the cost of borrowing the principal loan amount. APR includes the interest rate plus additional fees and costs, giving you the true cost of the loan. APR is always equal to or higher than the interest rate.
Why is APR important?
APR is important because it allows you to compare loans from different lenders on a level playing field. A loan with a lower interest rate but high fees may have a higher APR than a loan with a slightly higher rate but lower fees.
Is this APR calculator free?
Yes, this calculator is completely free, requires no sign-up, and can be used as many times as you need to compare different loan scenarios.