Loan Comparison Calculator
Compare two loan offers side by side to see which costs less overall.
Calculate
Enter your values below.
Result
Loan A payment
0
Loan B payment
0
Loan A total interest
0
Loan B total interest
0
Formula used
Each loan's monthly payment and total interest are calculated independently using the standard amortization formula, then shown together for comparison.
Example: Comparing a shorter, higher-rate loan against a longer, lower-rate loan reveals the true cost trade-off.
How to use this calculator
- Enter Loan A — amount, Loan A — rate (%), Loan A — term (months), Loan B — amount, Loan B — rate (%), Loan B — term (months).
- Press Calculate to see your result instantly.
FAQ
Frequently asked questions
Which loan is 'better'?
It depends on your priority: the lower payment eases monthly cash flow, while the lower total interest costs less overall.
Why might a lower-rate loan cost more in total interest?
If its term is much longer, more interest can accrue overall despite the lower rate.
Can I compare loans of different amounts?
Yes, each loan's numbers are entered and calculated independently.
Does this include fees?
No, only principal, rate, and term are considered — add any fees to the principal manually if you want them reflected.