Change the interest rate for a loan

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1. Open the loan account that you want to change the interest rate for.

2. If necessary, click the Loan Details button.

3. Next to the Interest Rate at the top of the window, click edit.

  • To change the interest rate for an adjustable-rate loan
    If the loan you set up in Quicken has a variable interest rate, at some point the rate will change. When you change the rate in Quicken, the scheduled payment amount also changes.

    To ensure that the payment schedule is updated accurately, adjust the interest rate at any time between your last payment at the old rate and the time your next payment at the new rate is due.

    1. Click Adjustable-rate Loans.

    2. Click Add New Rate.

    3. In the Loan Rate Changes dialog, click New.

    4. In the Effective Date field, enter the effective date for the rate change.

    5. In the Interest Rate field, enter the new interest rate. If you adjust only the interest rate, Quicken uses the new rate to recalculate your payment amount without changing the length of the loan.

    6. In the Payment field, enter a new amount (principal + interest only) for your regular loan payment. (Optional)

    7. Click OK.

  • To change the initial, opening date interest rate for a loan
    You might need to do this if, for example, you entered an incorrect or imprecise interest rate when you first set up the loan.

    1. In the Interest Rate field, enter the new rate.

    2. Click OK
    • Wha happens now?
      Quicken calculates a new payment amount using this new interest rate. The length of the loan doesn't change. If you change the regular payment, however, Quicken changes the length of the loan to correspond to the new payment.


Adjustable-rate loans have a variable interest rate. If you have this type of loan, use the current interest rate when you set up your loan. If you want to estimate your future payments, you can enter expected rate changes to create what-if scenarios.

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