APR calculator (annual percentage rate)

APR (annual percentage rate, in Slovenian EOM) is a yearly interest rate that also includes all mandatory loan costs, such as approval, administration and compulsory insurance fees. It shows what a loan really costs per year, which makes it the best figure for comparing banks' offers.

The APR calculator turns the nominal interest rate plus fees into the annual percentage rate (APR) – the most useful figure for comparing loans. Add one-off and monthly fees to see the realistic "cost" of financing. The result is informational. Numbers use European format (e.g. 50.000 for fifty thousand, 5,50 for five point five).

Loan amount (€) *

Term (months) *

Rate (% per year) ? *

One-off fee / commission (%) ?

One-off fees (€) ?

Monthly fees (€) ?

APR calculation result

Monthly installment (without fees) –

Total monthly outflow –

APR (yearly) –

Get bank's offer

Why this calculator

Why use the APR calculator?

See the real cost of a loan

The APR includes all mandatory costs, not just the interest rate that banks highlight in their adverts.

Compare bank offers

Offers with different costs and fees are put on a common footing, so you can see which is really cheaper.

Check the bank's figure

With the same inputs you can check the APR the bank quoted in its offer.

What is APR and how does it differ from the nominal interest rate?

The nominal interest rate only tells you how much interest you pay on the amount borrowed. The APR also includes all mandatory loan costs and reflects that you repay monthly. That is why the APR is always equal to or higher than the nominal rate. Even a loan with no fees at all and a 6% nominal rate has an APR of 6.17%, because interest is charged monthly.

The difference shows most when you compare offers. An example for a €10,000 loan over 5 years:

Offer	Nominal rate	Fees	APR	Total repaid
Bank A	5.5%	€300 approval fee	6.98%	€11,761
Bank B	5.9%	no fees	6.06%	€11,572

Bank A has the lower rate, but its approval fee makes it €189 more expensive. Only the APR shows this, so always compare APRs, not just interest rates. Current APRs from all banks for your amount and term are in the consumer loan comparison and the mortgage comparison, and which costs banks prefer not to highlight is covered in the article Mortgage APR and why your bank doesn't tell you about it.

Frequently asked questions

Frequently asked questions about the APR calculator 5

What is the APR and why does it matter more than the nominal rate?

The APR (annual percentage rate, in Slovenian EOM) is a yearly rate that also includes all mandatory loan costs, such as approval, administration and compulsory insurance fees. It shows what a loan really costs per year, so the APR is always equal to or higher than the nominal rate. Banks must state it in every advert that quotes an interest rate and in the offer before you sign.

Which costs does the calculator include?

The calculator uses the nominal interest rate, the loan amount and term, and any additional costs (such as approval or insurance fees) that you enter yourself.

Can I use the APR to compare loans from different banks?

Yes, that is its main purpose. Because it puts all costs into one figure, it lets you compare offers from different banks directly, even when their fees are structured differently.

Why does my result differ from the APR the bank quotes?

The bank calculates the APR from its own specific terms (amount, term, insurance). If you enter different inputs or costs, the result will differ accordingly.

Does a lower interest rate always mean a lower APR?

Not necessarily. A loan with a lower nominal rate but high extra costs can have a higher APR than a loan with a higher rate and low costs.