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Loan Comparison Calculator
Compare up to three loans side-by-side: monthly payment, total interest and total cost.
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About Loan Comparison Calculator
Choosing between loan offers is rarely about the headline interest rate alone, term length and fees can change the total cost dramatically. This calculator places up to three loans side-by-side and computes the monthly instalment, total interest and total amount paid over the life of each one.
All calculations use the standard amortization formula and run locally in your browser.
Frequently asked questions
What formula is used?
The fixed-payment amortization formula: PMT = P · r / (1 − (1 + r)^−n), where r is the monthly rate and n the number of months.
Are extra fees included?
Yes, any one-off fees you enter are added to the total cost figure to give you a fair apples-to-apples comparison.
What about variable rates?
This tool assumes a fixed rate. For variable-rate scenarios, run multiple comparisons with different rate assumptions.
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