Calculate Interest Rate

These steps explain how to calculate the interest rate an individual has at another financial institution.

• These steps are helpful in cases where you'd like to offer an individual a better rate at your credit union and encourage them to move their loan to your credit union.

1. Launch the Loan Quoter tool by clicking the dollar sign icon in the top right corner of your home screen.

2. Click the Rate Estimator button on the Loan Quoter screen.

3. Enter the original loan balance on the Calculate Interest Rate pop-up.

4. Enter the loan term.

5. Enter the current payment.

6. Click the forward arrow.

   • The interest rate will then appear in the Approximate interest rate field.