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Loan Comparison Calculator

Enter the amount, APR, and term for two loans to see which one costs less overall.

How to use

  1. Enter your values in the fields above.
  2. Press Calculate to see your result instantly.
  3. Use the Share button to copy a link to your result.

About this calculator

Two loans with the same headline amount can end up costing very different totals once APR (annual percentage rate) and term length are factored in — a lower rate over a longer term can cost more in total interest than a higher rate over a shorter one. Comparing them fairly means calculating the full monthly payment and total repayment for each, not just eyeballing the interest rate.

This calculator takes the amount, APR, and number of months for two loan offers, computes the amortized monthly payment for each using the standard loan payment formula, and totals the interest paid over the full term. It's built for borrowers comparing offers from different banks or lenders — for a car, mortgage refinance, or personal loan — who want to know which one is actually cheaper over its lifetime, not just which has the lower rate.

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