What does a flat rate mean?

Interest on the whole amount for the whole term, even as you repay; the page gives the reducing rate it equals, often nearly double.

How is the APR worked out?

As the yearly rate at which the payments are worth the amount you actually receive after fees, by the actuarial method.

Is this financial advice?

No. It is arithmetic on the numbers you type; rates, fees and rules differ by lender and place, so check your own papers.

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APR calculator

The APR of a loan with fees, and the reducing rate a flat rate really equals. Free, with no account or uploads.

What an offer really costs

Type the offer; turn on flat rate if the rate is quoted flat, and add the fees.

Amount borrowed

Interest a year

An example to start from; type your own.

The rate is a flat rateInterest on the whole amount for the whole term, as some dealers quote.

Fees paid at the start

With these numbers

$322.67 a month for 3 years

Interest adds $1,616, about the same as 5 of the payments. From month 1, more of each payment goes to the loan than to interest.

To the loanInterest

The dashed line is month 1, where more goes to the loan than to interest.

Show the numbers as a table

Year	To the loan	Interest
Year 1	$3,007	$865
Year 2	$3,322	$550
Year 3	$3,670	$202

Each month's interest is rounded to the cent, half up, and the last payment pays what is left, so your lender's schedule may differ by a few cents.

Currency

Extra each month

Paid on top of every payment, straight off the loan.

A lump sum paid earlyThe rate changes laterFor a floating rate: see both choices a lender may offer.

First payment (for dates in the schedule)

How it works and help

This is arithmetic on the numbers you type, not financial advice. Rates, fees and rules differ by lender and place. Worked out in your browser; nothing you type is sent anywhere.

A little help along the way

Follow these steps. Every option is explained underneath. Everything runs in your browser; nothing is sent anywhere.

Say what you are working outA home, car or personal loan, paying off a card, or checking an offer.
Type the amount, the rate and the termThe page starts with an example; type your own.
Read the answerThe payment and the interest in words first, then the chart and the schedule.
Download the scheduleAs CSV, a spreadsheet or a PDF.

Questions people ask

What does a flat rate mean?: Interest on the whole amount for the whole term, even as you repay; the page gives the reducing rate it equals, often nearly double.
How is the APR worked out?: As the yearly rate at which the payments are worth the amount you actually receive after fees, by the actuarial method.
Is this financial advice?: No. It is arithmetic on the numbers you type; rates, fees and rules differ by lender and place, so check your own papers.

This page is the Loan calculator, opened for this one job; every other tool it has is one press away. Each of its settings is explained on the Loan calculator's own page.

APR calculator

What an offer really costs

A little help along the way

Questions people ask

Guides

Same tool, other jobs

Tools nearby

APR calculator

What an offer really costs

A little help along the way

Questions people ask

Keep going

Guides

Same tool, other jobs

Tools nearby