Interest Rate Calculator
Work out the interest rate implied by a loan's principal, monthly payment, and term.
Inputs explained
- Principal — The amount borrowed. Example: 20000.
- Monthly Payment — The fixed monthly payment. Example: 400.
- Loan Term (months) — Total number of payments. Example: 60.
How to use it
- Fill in the fields above — each input has a hint describing exactly what to enter
- Press Calculate to get your result instantly, right on this page
- Copy the result, save the tool to favorites, or share and embed it anywhere
Understanding the result
Example: $20,000 paid off at $400/month over 60 months implies about a 7.4% rate.
Frequently asked questions
Is the Interest Rate Calculator free to use? Yes — it is completely free, with no sign-up, no download and no usage limits. You can use it as often as you need.
Is my data private? Yes. The calculation runs entirely in your browser — the values you enter are never sent to our servers, stored or shared with anyone.
What information do I need? Just the following: Principal, Monthly Payment, Loan Term (months). Each field includes a hint explaining exactly what to enter.
Can I use it on my phone? Yes — the tool is fully responsive and works on any device, and the same calculator is available in the EasyWorkCalcs mobile app.
Privacy
Everything you enter into the Interest Rate Calculator is processed entirely in your browser. Nothing is uploaded, stored or shared — your data stays on your device.