Calculate the APR of a personal loan
Calculate the APR of your personal loan
This calculator will let you calculate the APR of a personal loan based on the amount of the loan, its nominal interest rate, repayment term, fees, and, if it were compulsory, the payment protection insurance premium.
You can make various calculations and compare the APR for each of them.
This calculator can be used for loans incurring fees and expenses which have to be included in the calculation of the annual percentage rate (APR) and which are paid when the loan is arranged and on a regular basis.
This calculator is based on the assumption that the loan is repaid in equal monthly instalments and that the proportion of the monthly payment corresponding to interest is calculated using the following formula:
(Outstanding capital x nominal annual rate) / 1200.
Calculations have been simplified as follows, so that the calculator can be used with in as many cases as possible:
- Customers pay all the loan assessment, evaluation and arrangement costs on the date the loan agreement is signed
- Instalments are paid on a monthly basis
- Every month of the year has the same number of days
- There are no payment holidays and the first payment is made exactly one month after the loan has been arranged
The instructions for calculate the annual percentage rate can be found in Rule Thirteen of Circular 5/2012 of 27 June 2012 (in Spanish).