Money decisions, made clearer

Loan comparison calculator

See the payment, fees and total cost together. Then check the trade-off against your monthly budget.

No account needed · Financial inputs are calculated in your browser · Example values shown

Your numbers

Display currencyLabels only. All amounts must use the same currency; no conversion.

Loan A

Amount borrowed

Annual interest (%)Term (years)Whole months, expressed in years.

Upfront fee (paid separately)

Loan B

Amount borrowed

Annual interest (%)Term (years)Whole months, expressed in years.

Upfront fee (paid separately)

Check against my monthly budget

Optional: fill all three fields. Expenses should include existing debt payments. This is a cash-flow check, not a lending decision.

Take-home incomeLiving costs + existing debt paymentsSavings / safety buffer

Results update as you type. Empty or invalid fields stop the calculation.

Saving is optional. Anyone using this browser profile may be able to load it.

Loading your plan…

Understand the assumptions

These are estimates from the values you enter. Review the assumptions in your report and check the actual terms before making a financial commitment.

Read the worked example →How our calculations work Report a problem

How this calculator works

Compare fixed-rate loan offers using the same amount borrowed. A lower monthly payment can still mean a higher total cost if the repayment term is longer.

How to compare two offers

Enter each loan amount, annual interest rate and term.
Add fees paid separately at the start. Fees financed into the balance belong in the amount borrowed.
Compare the monthly payment and total cost together.
Open the budget check to subtract existing expenses and a savings buffer from take-home income.

Worked example: three years or five?

For $20,000 at 8% annual interest, the payment is about $626.73 over three years or $405.53 over five. Extending the term reduces the monthly payment by $221.20 but adds about $1,769.49 in interest before fees.

Does this calculator include APR?

No. Use the contractual interest rate for the calculation. The tool adds separately paid fees to total cash cost; it does not calculate a legally defined APR. Variable rates, balloon payments and refinancing break-even periods are outside this model.

For monthly rate r and n payments, payment = P × r / (1 − (1 + r)⁻ⁿ). At 0% interest, payment = P / n. Total cash cost includes scheduled repayments plus the upfront fee.

See the loan fees and total cost example or compare extra repayments.

Frequently asked question

Can a lower-rate loan cost more?

Yes. A longer term can increase interest, and upfront fees add cash cost. Compare the same borrowed amount, then read monthly payment and total paid together. This tool does not discount future payments or calculate APR.