Loan Comparison Calculator
Comparing loan offers means looking beyond the monthly installment. Enter up to three bank offers to compare monthly payment, total interest, fees and total payable side by side, so the genuinely cheapest offer stands out.
Lowest Total Cost Offer
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Saving vs Most Expensive
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| Offer | Monthly Payment | Total Interest | Fees | Total Cost |
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How to use
- Enter amount, rate, term and fees for each bank offer (set the amount to 0 for an offer you do not have).
- Compare the total cost in the table with monthly payment, total interest and fees.
- The offer with the lowest total cost and the saving vs the most expensive one are shown below.
- Do not look at the rate only — fees and a longer term often make a cheap rate expensive.
Note
Comparison is best on the same amount. For floating rate offers the rate can change later — keep fixed and floating in mind separately.
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- Loan vs Investment Calculator — Compare prepaying your loan with investing your monthly surplus and see which strategy wins.
Frequently Asked Questions (FAQ)
What does the loan comparison calculator do?
It compares up to three bank loan offers side by side on monthly payment, total interest, fees and total repayable amount.
How do I know which offer is cheapest?
The offer with the lowest total cost is shown, along with the saving versus the most expensive one.
Should I only look at the interest rate?
No. Fees and a longer term often make a cheap rate expensive, so compare the total cost.
Is the calculator free?
Yes, it is free to use with no signup, and everything runs in your browser.