Interest Rate Calculator — Find Your True APR
Reverse-engineer the real interest rate on any loan from its payment, convert between APR and APY, and compare two loan offers side by side to see exactly what you're paying.
Interest Rate Calculator
Find Rate · Convert APR/APY · Compare Loans
LOAN DETAILS
Annual Interest Rate (APR)
5.82%
0.4851% per month · 60 months
5.82%
APR
$3,100
Total Interest
$20,000
Principal
$23,100
Total Paid
Cost Breakdown
- Principal
- Total Interest
📊 How Does This Rate Compare?
Typical 2026 loan rates by credit score — your calculated rate is highlighted
| Credit Score | Typical Rate | Monthly Pmt | Total Interest |
|---|---|---|---|
| Excellent (720+) | 5.5% | $382/mo | $2,921 |
| Good (660-719) | 7.5% | $401/mo | $4,046 |
| Fair (620-659) | 10.5% | $430/mo | $5,793 |
| Poor (580-619) | 14.5% | $471/mo | $8,234 |
| Very Poor (<580) | 19.0% | $519/mo | $11,129 |
💡 Interest Rate Tips
What Is APR and Why Does It Matter?
Annual Percentage Rate (APR) is the true yearly cost of borrowing, expressed as a single percentage that folds in the interest rate plus most upfront fees — origination charges, points, and certain closing costs. The stated or "nominal" interest rate only tells part of the story; two loans with identical rates can have very different APRs once fees enter the picture, which is why lenders are legally required to disclose APR when advertising credit.
For example, a loan advertised at a 5.5% interest rate might carry a 5.9%+ APR once origination fees and closing costs are folded in. On a small monthly difference that gap can look trivial, but stretched across a 30-year mortgage or a multi-year auto loan, it compounds into real money. Always compare APR to APR, never a stated rate to an APR.
APR vs APY — Key Differences
| Feature | APR | APY |
|---|---|---|
| Full Name | Annual Percentage Rate | Annual Percentage Yield |
| Compounding | Does not include compounding | Includes compounding effect |
| Value | Always ≤ APY | Always ≥ APR |
| Used For | Loans | Savings accounts, CDs, investments |
| Formula | Stated rate | (1 + APR/n)^n − 1 |
| Example (6% APR, monthly) | 6.000% | 6.168% |
How Credit Score Affects Your Interest Rate
| Credit Score | Rating | Typical Auto Rate | Typical Mortgage Rate | Personal Loan Rate |
|---|---|---|---|---|
| 720+ | Excellent | 5.0–6.5% | 6–6.8% | 8–12% |
| 660–719 | Good | 6.5–9.0% | 6.8–7.5% | 12–16% |
| 620–659 | Fair | 9.0–13.0% | 7.5–8.5% | 16–22% |
| 580–619 | Poor | 13.0–18.0% | 8.5–10% | 22–30% |
| Below 580 | Very Poor | 18%+ | Hard to qualify | 30%+ |
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