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APR calculator
Calculate the monthly payment and total cost of any loan from its APR. Works for mortgages, auto loans, personal loans, credit cards, and student debt.
Typical APRs by loan type (2026)
| Loan type | APR (good credit) | APR (subprime) |
|---|---|---|
| 30-year mortgage | 6.50–7.25% | 8.0–9.5% |
| Auto loan (new) | 5.50–7.50% | 12–18% |
| Auto loan (used) | 7.00–9.00% | 15–22% |
| Personal loan | 8.00–12% | 18–36% |
| Credit card | 18–22% | 26–32% |
| Student loan (federal) | ~6.5% (fixed) | Same |
APR vs interest rate vs APY
Interest rate is the cost of borrowing the principal. APR adds mandatory fees (origination, discount points) and expresses everything as one annual cost.APY is for deposits, accounting for compounding.
Always compare loans on APR, not interest rate — APR catches the lender who advertises a low rate but loads up fees.
APR cost over the term
- $25k auto loan at 7% / 5 yr: $495/mo, $4,696 total interest
- $25k auto loan at 12% / 5 yr: $556/mo, $8,360 interest
- $300k mortgage at 7% / 30 yr: $1,996/mo, $418k interest
- $10k credit card at 22% / minimum payment: 28+ years to pay off, $20k+ interest
APR Calculator FAQ
What's the difference between APR and interest rate?
Interest rate is the cost of the principal only. APR includes interest plus mandatory fees (origination, discount points, mortgage insurance) expressed as an annualized rate. APR is always equal to or higher than the interest rate.
How is APR calculated on a credit card?
Most credit cards use a daily periodic rate (APR ÷ 365) applied to your daily balance. So a 21.99% APR is about 0.06% daily on whatever you owe. Pay your statement balance in full each month and APR doesn't apply — no interest is charged.
Can I negotiate my APR?
Yes, often. Credit cards: call and ask, especially if you've been a customer for years. Personal loans and auto loans: shop 3–5 lenders and let them compete. Mortgages: lock in your rate during a refinance shopping window.
Is a fixed APR or variable APR better?
Fixed gives certainty — payment doesn't change. Variable (tied to prime rate or SOFR) can drop if Fed cuts rates, but rises if rates climb. Fixed is safer; variable can be cheaper in falling-rate environments.
What's a teaser APR or 0% intro APR?
A promotional APR (often 0%) for a fixed period (12–21 months) on credit card balance transfers or new purchases. After the intro period, APR jumps to the regular 18–24% range. Useful for paying down debt — destructive if you don't pay it off before the intro ends.
How do I lower my APR over time?
Build credit (pay on time, lower utilization), shop competing offers and use them as leverage, refinance when rates drop, and consolidate high-APR debt into lower-rate products (HELOC, personal loan, balance transfer).