Interest Rate Calculator
Find the interest rate on a loan from the amount borrowed, the term and the monthly payment.
Change the values and press Calculate to work out your own figures.
Enter the loan, term and monthly payment.
Show the working
- the rate r where payment = amount × (r/12) ÷ (1 − (1 + r/12)^−n)
How to use it
Enter the loan, term and monthly payment.
Enter amounts without commas or with them; rates are percentages (5 for 5%). Negative amounts are allowed where a sign means money paid out.
Key facts
the rate r where payment = amount × (r/12) ÷ (1 − (1 + r/12)^−n)
Questions
What rate is a $32,000 loan paid $960 a month for 3 years?
5.065%.
Formulas
the rate r where payment = amount × (r/12) ÷ (1 − (1 + r/12)^−n)
Sources
Limitations
- Results are estimates for planning, not offers or financial advice; lenders and banks may round, count days or time payments differently.
- Rates are nominal annual rates compounded as you choose; payments at a different frequency use the equivalent periodic rate.