APR Calculator tool

APR Calculator

Loan Amount (₹): Nominal Interest Rate (annual %, e.g. 7.5): Additional Fees (₹): Loan Term (in months):

 

A Guide in Plain English for the APR Calculator APR calculators are like loan truth tellers. It shows you the real price you’ll pay for borrowing money – not just the interest rate the bank advertises, but all the hidden costs too.

 What it does:

 combines all costs, including interest, fees, and other charges. Gives you one clear percentage number to compare loans

 Helps you avoid expensive borrowing mistakes

 Why it's important: Banks might advertise a “low 5% interest rate” but sneak in fees that make the actual cost much higher.  The APR reveals the full story.

 Example:

 There are two credit cards that say "12% interest": Card A has no fees → APR = 12%

 Card B charges ₹500 yearly fee → APR = ~13.5%

 According to the APR calculator, Card B actually costs more. Real-world uses: ✓ Comparing car loans

 ✓ Choosing between mortgage offers

 ✓ Understanding credit card costs

 ✓ Evaluating personal loans

 The bottom line: Always check the APR, not just the interest rate, before taking any loan.  It’s the only way to know what you’re really paying.