Loan Comparison Calculator
Compare two fixed-rate loans by monthly payment, total interest, and total repayment.
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Your result
Monthly payment difference
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Total interest difference
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Total repayment difference
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Enter your assumptions to see a short result summary.
Loan comparison
Loan A
Monthly payment: —
Total interest: —
Total repayment: —
Loan B
Monthly payment: —
Total interest: —
Total repayment: —
How it works
- Each loan is modeled as a fixed-rate amortizing loan with monthly payments.
- The comparison shows monthly payment, total interest, and total repayment under each set of assumptions.
- A lower interest rate does not always mean a lower total cost if loan terms or amounts differ.
Payment = P × r × (1 + r)^n / ((1 + r)^n − 1)
Frequently asked questions
Can I compare loans with different terms?
Yes. Loan A and Loan B may use different amounts, rates, and terms.
Does this include lender fees?
No. This version compares principal and interest only. Use the APR Calculator when fees need to be considered.
Which loan is better?
That depends on your priorities. Monthly payment, interest cost, term length, fees, and flexibility can all matter.
Disclaimer
This calculator provides simplified fixed-rate loan estimates for informational purposes only. Actual loan costs may differ because of fees, repayment timing, rate structure, taxes, insurance, lender policies, and jurisdiction-specific rules.