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Nominal and effective interest rates Calculator

Convert a quoted nominal interest rate to an effective annual rate or back. This free nominal and effective interest rates calculator shows the calculation and its assumptions so you can compare your own figures.

Calculated on your device

Your results

Effective Annual Percent6.1678%

Convert a quoted nominal interest rate to an effective annual rate or back.

Nominal Annual Percent6%

Calculated outcomes

Periodic Percent
0.5%
Periods Per Year
12

Assumptions and estimates

  • Equal compounding periods; fees and taxes are excluded. A quoted nominal rate is not an APR.
  • Method: Effective rate = (1 + nominal rate ÷ periods)^periods − 1; invert for nominal rate.
  • Equal compounding periods; no fees or tax. Nominal interest is not APR.

Useful next steps

  1. Use Compare options to test an alternative side by side.
  2. Copy, print or download a record of this calculation when you need one.

Reports open your email app addressed to s@s1.ie with the public page address only. Your inputs are never added.

How the nominal and effective interest rates calculation works

Effective rate = (1 + nominal rate ÷ periods)^periods − 1; invert for nominal rate.

Equal compounding periods; no fees or tax. Nominal interest is not APR.

Using this calculator

  1. Enter your own figures in the labelled inputs. Keep the currencies, units and time periods consistent.
  2. Choose any applicable rate profile, pattern or assumption shown for this tool. Open additional inputs when relevant.
  3. Review effective annual percent and nominal annual percent, then read the stated assumptions and eligibility conditions before using the result.

Worked example

This is a static example using illustrative inputs, not facts about you or today’s date. The displayed eligibility selections and assumptions apply only to this example.

See example inputs
Input annual rate (%)
6
Compounding periods per year
12
Conversion
Nominal to effective
Effective Annual Percent
6.1678%
Nominal Annual Percent
6%

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