Finance Charge Calculator
Apply the periodic interest rate to your balance to find the finance charge added for the period.
- Free
- No sign-up
Enter the balance and periodic rate to see the finance charge.
Worked example
With these example inputs:
- Balance$2,000
- Periodic rate1.5%
Finance charge: $30.00
- The remaining share98.5%
- Amount left$1,970
- If the first figure were 10% higher$33.00
Frequently asked questions
How is a finance charge calculated?
Multiply the balance by the periodic interest rate. A 1.5% monthly rate on a $2,000 balance is a $30 finance charge for that month.
What is the periodic rate?
It is the interest rate for one billing period, often a month. Divide an annual percentage rate by 12 to approximate the monthly periodic rate.