Find the weighted average interest rate across several loans.
Please do not make financial decisions based on these results.
What is the Blended Rate Calculator?
Find the weighted average interest rate across several loans. To use the Blended Rate Calculator, enter loan 1 balance, loan 1 rate, loan 2 balance, loan 2 rate, loan 3 balance, loan 3 rate; it returns blended rate, total balance, yearly interest, and shows them instantly as you type.
Where the Blended Rate Calculator fits
Find the weighted average interest rate across several loans. The main figure it returns is the Blended rate, worked out from the values you enter.
It belongs with the other loans & debt tools. If you are comparing options or checking a result from another angle, try the Debt Calculator, Debt Payoff Calculator or the Loan Comparison Calculator.
How to use the Blended Rate Calculator
- Fill in the fields. You will need Loan 1 balance ($), Loan 1 rate (%), Loan 2 balance ($), Loan 2 rate (%), Loan 3 balance ($), Loan 3 rate (%). Take the rate and term from your loan offer. Fees and the rate type change the result. Fields marked optional can stay at zero.
- Read the result. The highlighted box gives the Blended rate, and the cards below show Total balance, Yearly interest. Tables and charts break it down further.
- Test other scenarios. Results update as you type. Change one value at a time to see what drives the answer, and press Reset to go back to the defaults.
Formula and how it works
Example with real numbers
Here is the Blended Rate Calculator using the default values shown in the calculator above:
Inputs
| Loan 1 balance ($) | 15,000 |
|---|---|
| Loan 1 rate (%) | 6.5 |
| Loan 2 balance ($) | 9,000 |
| Loan 2 rate (%) | 9 |
| Loan 3 balance ($) | 6,000 |
| Loan 3 rate (%) | 12 |
Results
| Blended rate | 8.35% |
|---|---|
| Total balance | $30,000.00 |
| Yearly interest | $2,505.00 |
With these inputs the calculator returns Blended rate: 8.35%. Change any value in the calculator to see how the result moves.
What if you change one input?
Sensitivity check: raising Loan 1 balance ($) from 15,000 to 18,000 (about 20% higher) and leaving everything else as in the example above changes the results like this:
| Result | Example | After the change | Change |
|---|---|---|---|
| Blended rate | 8.35% | 8.18% | -2% |
| Total balance | $30,000.00 | $33,000.00 | +10% |
| Yearly interest | $2,505.00 | $2,700.00 | +7.8% |
The input that moves the result most is the one to check twice. Change it in the calculator above to test your own case.
What the results tell you
The results panel of the Blended Rate Calculator reports Blended rate, total balance and yearly interest. Compare these figures while changing one input at a time, and use the related calculators below to look at the same situation from another angle.
Method and limits. This calculator applies the formula in the section above to your inputs, in your browser; nothing you enter is stored on our servers. Your lender’s offer is the final word: fees, rate type and rounding differ between lenders. It is for information, not financial, tax or legal advice.
Frequently asked questions
When is a blended rate useful?
When comparing consolidation offers against your existing mix of loans.
How can I pay off a loan faster?
Pay more than the required amount, add extra yearly or one-time payments, or switch to biweekly payments. Make sure extra payments go to principal.
What is APR and why does it matter?
APR is the yearly cost of a loan including fees. Use it, rather than the interest rate alone, to compare offers.
Are the results guaranteed?
No. Results depend entirely on the numbers you enter and the formulas shown on this page. Please do not make financial decisions based on them alone; confirm important figures with a licensed professional.
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