APR Calculator
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.
Loan Amount
₹ 1000
₹ 15 Cr
Interest Rate (Annual %)
6%
28%
Tenure (Months)
1M
360M
Processing/Documentation Fees
₹0
₹5 Cr
Other Charges
₹0
₹5 Cr
APR
EMI Amount
How to use the Calculator:
- To calculate APR, please provide input for Loan Amount (in INR), Tenure (in months), ROI (without %), Processing Fee of your loan and other applicable charges.
- The APR calculator processes these inputs to display the APR in the output field.
- The output values mentioned in the APR calculator are based on the input provided in the respective field, as indicated in the calculator. You are requested to use the calculator without making any changes to achieve the desired output.
- The APR is the effective annualized rate charged to a borrower for a loan. It is an all-inclusive cost covering cost of funds, credit cost, operating cost, processing fees, verification charges, maintenance charges, and other applicable fees.
- The Annual Percentage Rate (APR) calculator enables customers to compute and compare annualized credit cost, which includes interest rate and charges applicable at the time of loan origination
- The APR excludes contingent charges like penal charges, late payment fees etc.
- RBL Bank shall not be responsible for any output produced due to changes in the calculator or incorrect input feed.
Advantages of using the APR Calculator for Loan EMI
The APR Calculator doesn’t just factor in the interest rate; it also includes any additional fees or costs associated with the loan. This gives you a clearer picture of the total amount you’ll be paying, helping you avoid any hidden charges or unexpected expenses.
With just a few clicks, you can enter different loan amounts, tenures, and interest rates and fees to calculate the actual cost. This makes it easy to compare different loan offers and choose the one that best fits your budget.
Manually calculating the APR can be time-consuming and prone to mistakes, especially when dealing with complex numbers or multiple fees. The APR Calculator does all the math for you, ensuring accuracy and saving valuable time.
What is an APR Calculator for Loans?
An APR Rate Calculator is a simple online tool designed to help you calculate the APR of a loan. Unlike the nominal interest rate, the APR includes all the costs associated with a loan, such as interest rates and any other additional charges like loan origination fees. This makes the APR a more accurate reflection of the total cost of borrowing. By using an APR Calculator, you can easily compare different loans and choose the one that best suits your financial situation.
How to calculate the APR for Loans
Using an APR Calculator simplifies this calculation, instantly factoring in all variables to give an accurate APR. The simplified formula to calculate APR is:
Total interest = The total interest payable over the loan term. Fees = Any additional costs, such as processing fees or administration charges. Loan principal = The initial amount borrowed. Loan term = The duration of the loan, converted into days.
Disclaimer:
The APR displayed is an indicative estimate based on the information provided by the user. Actual APR may vary depending on the final loan structure and applicable bank policies.
RBL Bank does not guarantee the accuracy, completeness, or sequence of the information or data generated by this tool. Users should not rely solely on this information for any purpose. The use of this tool and its output is entirely at the user’s own risk. Before making any financial decisions, users are advised to exercise due diligence and, where necessary, seek guidance from qualified professionals (including tax, legal, accounting, or financial advisors).
RBL Bank assumes no obligation to update the data and accepts no liability for any claims, whether in contract, tort (including negligence), or otherwise, arising from the use of this tool or its output. Neither RBL Bank nor its affiliates, agents, or licensors shall be liable for any direct, indirect, incidental, special, or consequential damages (including, without limitation, loss of profit, business opportunity, or goodwill) resulting from the use of this tool or the information provided herein.
