Find the true APR, fees included.
Two loans with the same interest rate can cost very different amounts once fees are counted. Enter an offer to see its real APR, how much you actually receive, and the full finance charge.
- Fees change the math. An origination fee raises the APR above the stated rate.
- Short terms hit harder. The same fee adds more APR on a shorter loan.
- The legal yardstick. Lenders must disclose APR under the Truth in Lending Act.
Written by the Lendli Editorial Team under our editorial policy. Last reviewed .
APR calculator
Assumes the fee is deducted from the amount you receive and payments are monthly and on time.
How fees and term change the APR
Each cell is the APR of a $10,000 loan at a 10% interest rate, with the fee deducted at funding.
| Origination fee | 24 months | 36 months | 60 months |
|---|---|---|---|
| 0% | 10.00% | 10.00% | 10.00% |
| 3% | 13.06% | 12.11% | 11.32% |
| 5% | 15.18% | 13.56% | 12.24% |
| 8% | 18.48% | 15.83% | 13.66% |
The fee is spread over fewer months on a short loan, so it has a bigger effect on the yearly rate.
APR, interest rate and APY: what is the difference?
Interest rate is the yearly price of borrowing the principal, before fees.
APR expresses the finance charge, including interest and certain required fees, as a yearly rate on the amount you actually receive. It is the number to compare loans with.
APY (annual percentage yield) includes the effect of compounding and is mainly used for savings accounts, not loans.
A fixed APR stays the same for the life of the loan. A variable APR is tied to an index and can change, which moves your payment.
Usually in the APR
- Interest
- Origination or underwriting fees
- Other required finance charges
Usually not in the APR
- Late fees and returned-payment fees
- Optional products you choose to add
Comparing two offers with APR
Offer A: 9.5% interest with a 6% origination fee over 36 months.
Offer B: 11.5% interest with no fee over 36 months.
Offer A looks cheaper by rate, but after the fee its APR is about 13.8%, higher than Offer B's 11.5%. Enter both in the calculator to check any pair of offers the same way.
Also compare the total of payments and the amount you receive, since a deducted fee means you may need to borrow more to cover the same expense.
| Offer A | Offer B | |
|---|---|---|
| Interest rate | 9.50% | 11.50% |
| Origination fee | 6% | None |
| True APR | ≈13.8% | 11.50% |
APR limits you should know
Some borrowers and loan types have legal caps on APR.
Military Lending Act
Caps the Military APR at 36% on most consumer credit for covered active-duty servicemembers and their dependents.
Federal credit unions
Most loans from federal credit unions are capped at 18% APR; payday alternative loans at 28%.
State usury laws
Many states cap rates on certain loans. Limits and exceptions vary widely by state and lender type.
Compare real offers by APR
Check your loan options, then run each one through the calculator.