APR Tool
Compare the annualised cost of loans using interest rates, repayment schedules and fees. Explore monthly or alternative payment frequencies, amortising, interest-only and balloon structures, with an interactive balance chart, cost breakdown and downloadable repayment schedule.
| # | Period | Payment | Principal | Interest | Fees | Balance |
|---|
Indicative APR based on equal payment intervals and an effective annualised cash-flow rate. Lender quotations may differ because of statutory APR conventions, exact payment dates, rounding and other charges.
Table of Contents
Highlights
- Fee-inclusive effective annual APR estimate
- Amortising, interest-only and balloon repayment options
- Flexible payment frequencies and annual rate conventions
- Interactive balance and cumulative-cost charts
- Detailed repayment table with CSV, JSON and SVG exports
How APR Tool Works?
Annual percentage rate (APR) expresses the annualised cost of borrowing after accounting for the payment timetable and included fees. Enter the loan amount, annual interest rate, interest calculation type, loan term, payment frequency, repayment structure and applicable charges. Fees can be paid at the start (reducing net proceeds) or financed (increasing the opening balance). A separate periodic fee is added to each scheduled repayment.
The periodic interest rate depends on whether the quoted annual rate is nominal or effective. If r is the quoted annual rate as a decimal and m is the number of payments per year:
For an amortising loan, a regular principal-and-interest payment A is calculated from the starting balance P, periodic rate i and number of payments N:
For a balloon structure, the regular payment is adjusted for the discounted final balloon principal B: . For interest-only loans, the balance remains outstanding until the final payment, when the entire principal is repaid. At zero interest, the principal component is divided evenly across periods, adjusted for any balloon.
To find APR, the tool solves for a periodic discount rate j at which the present value of all scheduled payments, including recurring fees, equals the net cash received by the borrower:
The tool reports APR, payment per period, total interest, total fees, total repayments, net proceeds and the difference between APR and the stated interest rate. It also displays a principal-interest-fees breakdown, switchable outstanding-balance and cumulative-cost charts, and a payment-by-payment table.
| Input or option | Effect on the result |
|---|---|
| Interest type | Nominal or effective annual rate determines periodic interest. |
| Repayment frequency | Monthly, fortnightly, weekly, quarterly or annually sets payments per year. |
| Repayment structure | Standard amortisation, interest-only or a final balloon changes repayment cash flows. |
| Upfront and origination fees | Charges may reduce cash received initially or increase financed principal. |
| Periodic fee | Added to each repayment and reflected in APR and overall fees. |
Practical Use Cases
Personal loan borrowers: Compare offers with different stated rates and establishment fees to see how upfront charges affect the annualised borrowing cost and regular repayments.
Car buyers: Model a vehicle loan with a final balloon payment, then inspect the outstanding balance and the larger final repayment before choosing a finance agreement.
Homeowners: Explore interest-only versus principal-and-interest structures and see how deferring principal repayment changes the cash-flow profile and total interest.
Small business owners: Evaluate business borrowing with financed origination fees and recurring administration fees, using the full schedule to plan repayment cash flow.
Financial advisers: Illustrate how term length, nominal versus effective rates and weekly, fortnightly, monthly or quarterly repayments affect the apparent cost of different borrowing scenarios.
Accuracy and Limitations
Results use full-precision periodic interest, equally spaced payments and a numerically solved effective annualised cash-flow rate; displayed amounts are rounded. Payments are assumed to occur at the end of each period, with no irregular dates, missed payments, rate changes, early repayments, tax effects or compounding outside the selected rate convention. Month-based terms must produce a whole number of payments. The balloon principal is included in the final repayment, and interest-only principal is repaid in full at maturity. This is an indicative effective annual rate, not necessarily a lender's legally prescribed APR, which may use different charge-inclusion rules, date conventions or rounding.
