About the Loan Comparison Calculator
Compare two loan offers side by side — monthly payment, total interest, fees and total cost — to find the cheaper one.
Also known as: compare loans, loan offer comparison, which loan is better.
How to use this calculator
- Enter loan amount, loan a rate, loan a term, loan a fees and the other fields.
- The result updates instantly as you type — press Calculate (or Enter) at any time.
- Review the breakdown shown under the main result.
- Use Copy result or Share to save the answer or send a link with your inputs.
Formula
Total cost = Σ payments + fees
Worked example
Using the values pre-filled in the calculator above:
- Loan amount = 20,000
- Loan A rate = 8 %
- Loan A term = 5 years
- Loan A fees = 200
- Loan B rate = 6.9 %
- Loan B term = 5 years
- Loan B fees = 800
the calculator returns:
- Cheaper overall: Loan B saves 26.81