Free APR Calculator — Calculate True Annual Percentage Rate

Calculate the true cost of borrowing with our accurate APR calculator. Include fees, compare loan offers, and download complete amortization schedules. Fast, accurate, and mobile-friendly.

Calculate APR — It's Free How It Works

Why Use Our APR Calculator?

Accurate Calculations

Industry-standard Newton-Raphson algorithm ensures precision to 0.001%, matching professional financial software.

Include All Fees

Calculate true APR including origination fees, closing costs, and other charges that lenders may not advertise.

Visual Charts

See how your principal and interest payments change over time with interactive visualizations.

Download Schedule

Export complete amortization schedule as CSV for your records or further analysis in Excel.

Mobile Friendly

Fully responsive design works perfectly on smartphones, tablets, and desktop computers.

Private & Secure

All calculations happen in your browser. We don't store or transmit your personal financial data.

Quick APR Estimate

Get a fast APR estimate or use the full calculator for detailed results.

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Understanding APR

What is APR?

APR (Annual Percentage Rate) represents the true yearly cost of borrowing money. Unlike a simple interest rate, APR includes all fees and costs associated with the loan, giving you a complete picture of what you'll actually pay.

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APR vs Interest Rate

The interest rate is just the cost of borrowing the principal. APR includes the interest rate plus origination fees, points, closing costs, and other charges. This makes APR the better metric for comparing loan offers.

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Frequently Asked Questions

APR (Annual Percentage Rate) represents the true yearly cost of borrowing money, including both the interest rate and all associated fees. It's calculated by finding the rate that equates the present value of all loan payments to the net loan amount (loan amount minus fees). Our calculator uses the Newton-Raphson method for precise APR calculations.

The interest rate is the cost of borrowing the principal amount, expressed as a percentage. APR includes the interest rate plus additional costs such as origination fees, closing costs, and other charges. APR gives you a more complete picture of the total cost of the loan, making it easier to compare different loan offers.

Fees increase the APR because they represent upfront costs that reduce the actual amount you receive while you still repay the full loan amount. For example, if you borrow $10,000 with $500 in fees, you only receive $9,500 but must repay $10,000 plus interest, resulting in a higher effective annual cost. Use our calculator to see exactly how fees impact your APR.

Yes, our calculator uses the industry-standard Newton-Raphson numerical method to compute APR with precision to 0.001%. The algorithm is based on the Truth in Lending Act (TILA) regulations and matches results from professional financial software. We've validated our calculations against multiple authoritative sources.

Yes, after calculating your APR on the calculator page, you can download a complete amortization schedule as a CSV file. The schedule shows payment number, date, principal, interest, and remaining balance for every payment throughout the loan term. You can open this file in Excel, Google Sheets, or any spreadsheet application.

No. All calculations are performed locally in your web browser using JavaScript. We do not collect, store, or transmit any of your financial data to our servers. Your privacy and security are our top priorities. See our privacy policy for more details.

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