Interest Rate Calculator
The Interest Rate Calculator determines real interest rates on loans with fixed terms and monthly payments. For example, it can calculate interest rates in situations where car dealers only provide monthly payment information and total price without including the actual rate on the car loan.
Loan Details:
Interest Rate Calculator
The Interest Rate Calculator helps you determine the true annual interest rate on loans with fixed repayment terms. This powerful financial tool is particularly useful when lenders or dealers provide payment amounts without disclosing the actual interest rate applied to your loan.
Key Features:
Calculates the effective interest rate based on your loan amount, term, and monthly payment
Works for various loan types including auto loans, personal loans, and instalment loans
Reveals the total interest cost over the life of your loan
Shows the complete repayment amount including principal and interest
Provides transparent loan analysis when only payment information is available
Common Uses:
Deciphering auto dealer financing offers that only show monthly payments
Comparing loan offers from different lenders
Understanding the true cost of “no interest” instalment plans
Verifying that advertised rates match your actual payment terms
How It Works:
Simply enter:
Your total loan amount
The repayment period (in years and months)
Your fixed monthly payment amount
The calculator will instantly compute your annual interest rate, total repayment amount, and total interest paid. This information empowers you to make informed borrowing decisions and compare financing options accurately.
For investment-related calculations, please use our Interest Calculator or Compound Interest Calculator tools instead.