Loan Calculators
APR Calculator
Convert an interest rate plus fees into an annual percentage rate so two loan offers can be compared on the same basis.
Effective APR
9.8%
- Monthly payment
- $410.33
- Cash you actually receive
- $19,400
- Total cost of credit
- $5,220
How this calculator works
APR solves: net advance = Σ payment ÷ (1 + apr/12)^t
- net advance
- the loan amount minus fees deducted at the start
- payment
- the contractual monthly payment
Important considerations
- APR assumes you keep the loan for the full term.
- Different jurisdictions include different fees in the statutory APR.
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- Loan Interest CalculatorTotal interest cost across the life of a loan.
Learn more
How Lenders Set Interest Rates on Consumer Loans
Funding costs, risk pricing, and margin — the three inputs behind an advertised rate.
How Loan Calculators Work — And What They Leave Out
The amortisation formula behind repayment calculators, and the costs most tools exclude.
Personal Loan Eligibility: What Lenders Actually Check
Credit history, debt-to-income ratio, and documentation requirements, explained without jargon.
Terms used here
Frequently asked questions
Why is APR higher than the interest rate?
Because fees are spread across the term as if they were extra interest.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01