Personal Loan APR vs. Interest Rate
The interest rate is the percentage used to calculate interest on the loan balance. APR is a broader annualized measure that can include certain finance charges or lender fees.
Why the difference matters
Two loans can advertise the same interest rate but have different overall costs if one charges higher eligible fees. When comparing offers, review both APR and the lender disclosure.
Calculator note
Our main calculator accepts an annual interest rate and lets you enter an origination fee separately. It does not claim to reproduce every lender’s APR methodology.