Loan Comparison Calculator
Compare two loans for the same amount to see the monthly payment and total cost of each option, and how much the cheaper one saves.
- Free
- No sign-up
Enter the amount and both options to compare the loans.
Worked example
With these example inputs:
- Loan amount$25,000
- Option A rate12%
- Option A term5 yr
- Option B rate9%
- Option B term5 yr
Total cost difference: $2,229
- Option A payment$556.11
- Option A total$33,367
- Option B payment$518.96
- Option B total$31,138
Frequently asked questions
How do I read the result?
Compare the two total costs, the lower one is cheaper overall. The headline shows the difference between them, and the metrics show each option's payment and total.
Why can a lower payment cost more?
A longer term lowers the monthly payment but stretches interest over more years, so a loan with a higher payment can still cost less in total.