Calculator
APR with fees calculator
A low quoted rate with a large fee can cost more than a higher rate with none. The APR counts the fee as part of the cost of borrowing, which makes offers comparable.
APR
12.10%
2.11 points above the rate
Monthly payment
$484
Cash actually received
$14,550
APR here is the rate at which the payments repay only the cash received (principal minus fees), expressed as a nominal annual rate. Lenders' disclosures may differ slightly in method.
How it works
- Payments are based on the quoted rate and the full loan amount.
- APR is the rate at which those payments repay only the cash you actually received.
- A flag appears if the APR is above 35%.
Questions people ask
Why is APR higher than my rate?
Because fees reduce the cash you receive while the payments stay the same.
What is the legal maximum APR?
Criminal Code section 347 sets the criminal rate at an APR above 35% on the credit advanced; some loans are exempt.
Should I compare APRs or rates?
Compare APRs whenever fees differ between offers.