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MAPR calculator for Open-End Loans

Use this calculator to find the Military Annual Percentage Rate (MAPR) on a open-end loan.

MAPR calculator for Open-End Loans Definitions

Current balance
Current actual balance for this open ended loan. We assume that there is a monthly billing period for this opened end loan.
Interest or finance charge
The actual interest or finance charge for the current billing period. We assume that there is a monthly billing period for this opened end loan.
Credit insurance
Fee for credit insurance.
Debt cancellation
Fee for a debt cancellation contract.
Debt suspension
Fee for a debt suspension agreement.
Credit-related ancillary product sold
Fee for a credit-related ancillary product sold in connection with the credit transaction.
Plan participation fee
Any fee imposed for participation in any plan. The MLA rule excludes an application fee charged by a Federal Credit Union, or an insured depositary institution, when making a short-term, small amount closed-end loan that is subject to and made in accordance with a Federal law. One application fee per rolling 12 month period is not included in the MAPR.
Other fees
Any other fees that should be included in the MAPR calculation. These fees can vary by lender, but at a minimum usually includes prepaid interest.
Military Annual Percentage Rate (MAPR)
A standard calculation used by lenders for loans covered by the Department of Defense's Military Lending Act & Regulation Z. It is similar to a standard APR calculation but includes additional fees in the calculation and limits any loan to a MAPR of no more than 36%. For example, a loan with a lower stated interest rate may be a bad value if its fees are too high. Likewise, a loan with a higher stated rate with very low fees could be an exceptional value. MAPR calculations incorporate these fees into a single rate.