APR / APY Calculator
Compare borrowing costs and deposit yields on a common
annual basis, including the true cost of loan fees.
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Fees raise a loan’s true cost above its quoted rate.
APR / APY Calculator
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Mos
Nominal APR
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Compounding
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APY
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Comparison
Assumptions & method
- APR → APY: APY = (1 + APR ÷ m)^m − 1 for m periods per year, or e^APR − 1 for continuous compounding.
- APY → APR: APR = m × ((1 + APY)^(1/m) − 1), or ln(1 + APY) for continuous compounding.
- Loan true cost: equal monthly payments from the nominal rate (rate ÷ 12) over the term. Fees are paid at the start, so the borrower receives loan amount − fees. APR is the periodic rate j (IRR) that equates the payments to that net amount, times 12. The compounded equivalent is (1 + j)^12 − 1.
- Rates are constant and payments are monthly in arrears. Local APR rules, fee definitions and day-count conventions may differ. Results are estimates, not guarantees or a disclosure.
Compounding Comparison
What are APR and APY?
APR (annual percentage rate) is the yearly cost of borrowing quoted without compounding inside the year, and it is often adjusted to include certain fees. APY (annual percentage yield) is the yearly return on a deposit after compounding is applied. The two are built on different conventions, so a loan APR and a savings APY are not directly comparable. Use this tool to convert between them for a chosen compounding frequency, or to see how upfront fees lift the real yearly cost of a loan above its headline rate.
APR to APY with any compounding
APY back to nominal APR
Loan APR including upfront fees
Assumptions shown openly
Estimates only, not a disclosure