Loan Comparison Calculator
Compare loan offers side by side and see which one really costs least.
How to use: Enter the amount, interest rate, term and any upfront fees for two or three loans. The cheapest is marked with a trophy and the table shows every cost.
How to use the Loan Comparison Calculator
Loan adverts focus on the interest rate or the monthly payment, but the true cost depends on the rate, the length of the loan and any upfront fees together. A lower rate with a big arrangement fee, or a longer term with smaller payments, can end up costing more.
Enter up to three offers. For each, type the amount you would borrow, the annual interest rate, the term in years and any fees paid at the start, such as origination or arrangement fees. Leave the third column empty to compare just two. Results update as you type.
The table shows the monthly payment, the number of payments, total interest, fees, the total cost of borrowing (interest plus fees) and the total amount you repay. It also calculates an effective APR that folds the fees into the rate, so offers with different fee structures can be compared fairly. The cheapest loan overall is marked with a trophy, with the saving compared with the most expensive option.
Calculations assume a fixed rate and equal monthly payments, the way most personal, car and student loans work. Check the lender’s official documents for variable rates, insurance, early repayment charges or payment holidays. Your numbers stay in your browser.
Frequently asked questions
What is the effective APR?
The interest rate that would give the same monthly cost if the fees were added to the loan. It makes offers with different fees comparable.
Is a lower monthly payment always better?
No. A longer term lowers the payment but usually increases the total interest you pay.
Does it handle variable rates?
No. It assumes a fixed rate for the whole term. For variable loans, try a few different rates.