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Calculating the APR

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How do I check the APR calculation on our consumer loans to ensure the accuracy? Is there a website that will do this?

You can dowload the OCC's APR calculator (& the APY calculator) from the OCC's website at

This is the program that the examiners use to check your APRs. If you dowload it, it is free. You can order it for $20.

See also, from the Banker Store
The APR EXAMINER, Version 4.2.6 from APR Systems, Inc., Richmond, VA, has been the ideal calculation tool for thousands of bank compliance managers and auditors since 1984. It performs APR verifications for all types of consumer loans and handles reimbursement calculations when necessary.

The built in "Fed calendar" assures time measurements that comply with Regulation Z, and specially designed routines verify disclosures for construction loans, ARM loans, single payment loans, and multiple advance loans.

The EXAMINER also performs deposit interest and APY calculations for single, stepped and tiered rate deposit products. The EXAMINER's TOOLBOX contains an assortment of utilities including amortization, random sampling, rounding, monthly loan payments, and the standard financial functions (PV, FV, PMT, N and I).

First published on 6/17/02

First published on 06/17/2002

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