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APR Loan Calculator

Using the APR calculator, you can determine how much you'd have to pay every month to eliminate your loan balance. Move the sliders or enter the percent APR of the loan, the loan balance, and the time period in which you plan to pay it off.

Pay More Than the Minimum Required

Speed up debt repayment by putting down more than the minimum payment due.

Consolidate Debt Under a Lower Interest Rate

You could end up with smaller payments and less interest paid in the long run.

Keep a Good Credit Score

Lenders tend to offer lower rates to those with higher credit worthiness.

The APR calculator uses the following formula:

Monthly payments = (Principal)(APR/1200 + (APR/1200)/((1+APR/1200)^Term -1))

Projected monthly payments assume no changes to the APR and original loan principal.

If you are planning to apply for a new loan or line of credit, calculate your projected monthly payments to see if you'll be able to budget for and meet the debt obligations.

Remember to read the terms of the loan agreement before signing the application.

What Does it Mean?

Annual percentage rate (APR)

The standardized annual rate used by lenders to determine the amount of interest charged on borrowed funds. Consumers can use this rate to compare the costs of loans and lines of credit offered by lenders.

Minimum payment due

The smallest monthly payment accepted by a lender under the loan agreement. Failure to make the minimum payment due may result in late fees, penalty charges, interest rate increases, and repossession of collateral.

Debt consolidation

A financial maneuver that combines the balances of loans and lines of credit into a new loan with a lower interest rate. It helps reduce monthly payments and interest paid when trying to eliminate debt.


Calculate your monthly payments.

  • 1.

    What % APR is on the loan?

  • 2.

    How much do you or will you owe?

  • 3.

    How long do you plan to take
    to pay off this loan?


Monthly payments: $0

CD national averages

3 Month Average*



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* average is based on banks tracked on