What this calculator does
Blended interest rate works out the single weighted rate that several loans are effectively costing. Enter your own figures above and the answer updates as you type: nothing is fixed in the code, so the result reflects exactly the numbers you supply.
The formula this calculator evaluates is printed under the tool and explained below, so you can check the working by hand or reuse it in a spreadsheet.
The formula
FormulaBlended rate = Σ(balance × rate) / Σ(balance), for loans on the same payment period
The inputs explained
| Field | What to enter |
|---|---|
| Loan balances (comma separated) | A list of numbers, separated by commas or spaces. |
| Interest rates, same order (comma separated %) | A list of numbers, separated by commas or spaces. |