APR Calculator
Overview
Calculate the true Annual Percentage Rate (APR) of a loan including fees and compare effective rates across different loans
Key Facts
| Field | Value |
|---|---|
| Calculator ID | apr |
| Category | Finance |
| Vertical | Finance & Economics |
| App route | /verticals/finance/apr |
| API endpoint | /api/public/calculate?id=apr |
Inputs
| Input ID | Label | Type | Required | Default | Constraints |
|---|---|---|---|---|---|
currency | Currency | select | Yes | USD | - |
loanAmount | Loan Amount | currency | Yes | 20000 | min 100, max 10000000, step 100 |
interestRate | Stated Interest Rate | percent | Yes | 5.5 | min 0, max 50, step 0.1 |
fees | Total Fees | currency | Yes | 500 | min 0, max 100000, step 10 |
loanTerm | Loan Term | number | Yes | 5 | min 1, max 50, step 1 |
compoundingFrequency | Compounding Frequency | select | Yes | 12 | - |
How to Use
- Enter Loan Details — Enter your loan amount and loan term in years
- Input Interest Rate — Input the stated interest rate from your lender
- Add Fees — Add all upfront fees (origination, points, processing costs)
- View True APR — View your true APR and compare with the stated rate
Result Surfaces
| Output | Display Type | Format |
|---|---|---|
| Computed results | result-card | - |
Related Calculators
FAQ
What is the difference between APR and interest rate?
Interest rate is the cost of borrowing the principal. APR includes the interest rate PLUS fees (origination, points, etc.) expressed as an annual rate. APR is always higher than or equal to the interest rate and provides better comparison between loans.
Why is APR higher than my interest rate?
APR factors in upfront fees like origination fees, points, and processing costs. A 5% interest rate with $2,000 in fees might have a 5.8% APR. The bigger the difference, the more you're paying in fees.
What is a good APR for a personal loan?
Excellent credit (750+): 6-10%, Good credit (700-749): 10-18%, Fair credit (650-699): 18-25%, Poor credit: 25-36%. Shop multiple lenders – rates can vary 5%+ for the same borrower.
Evidence
src/lib/calculators/registry.ts(metadata)src/lib/calculators/page-registry.ts(page/HowTo metadata)src/lib/calculators/finance/apr.ts(calculator config)