Find a loan effective APR once upfront fees are included, so you can compare offers fairly. Enter the loan, rate, term, and fees.
Usage Tip
When comparing loans, line up the APRs, not the headline rates — a lower rate with high fees can cost more.
Solved numerically from payment, term, and net proceeds.
With no fees, APR equals the nominal rate.
APR does not include within-year compounding (that is APY); for savings, compare APY instead.
Lenders must disclose APR, which makes it the fairest cross-lender comparison.
A loan’s stated interest rate often leaves out upfront fees, such as origination or processing charges. When those fees are paid at the start, you effectively receive less money than the loan amount while still repaying the full amount, which raises the true cost of borrowing. The effective APR measures that cost as a single yearly rate.
Comparing offers by effective APR is fairer than comparing the stated rate alone, because a lower rate with high fees can cost more than a higher rate with none. A short loan term makes the fees count for more per year. Check whether the lender includes the fees in the loan amount or charges them separately, and ask for the full cost of borrowing before agreeing to anything.