Free browser-based estimate
Compare two loan offers by monthly payment, fees, total repayment, and estimated interest cost. Review the assumptions and verify important figures with current official sources.
Offer A total cost
$36,568
Offer B total cost
$39,592
Lower-cost option
Offer A
Compare the same principal amount in both offers. Review APR, fees, early-repayment terms, variable-rate conditions, and lender disclosures before choosing a loan.
Fast calculator execution with private inputs, clear estimates, and responsive layouts across desktop and mobile.
Salary, tax, savings, and career planning values are processed locally wherever possible. No account or saved calculation history is required.
Update inputs and see planning results immediately, without waiting for signups, dashboards, or checkout flows.
Works across modern desktop and mobile browsers so salary, tax, and savings calculations remain usable on any screen size.
This tool allows you to evaluate multiple loan offers side-by-side to determine which is truly the most cost-effective. It factors in interest rates, loan terms, and origination fees to reveal the total cost of borrowing.
Anyone shopping for financing, whether you are comparing auto loans, personal loans, or considering refinancing options. It helps borrowers cut through confusing marketing to find the mathematical best choice.
Example Input
Loan A: $10,000 at 8% APR for 5 years. Loan B: $10,000 at 6% APR with a $300 origination fee for 5 years.
Sample Output
Loan B may offer lower monthly payments, but you must account for the upfront origination fee when calculating total cost.
Example Input
Loan A: $25,000 at 4% for 60 months. Loan B: $25,000 at 5% for 48 months.
Sample Output
Loan B has higher monthly payments but saves a significant amount in total interest over the life of the loan.
Use this calculator when evaluating offers from different lenders, or deciding whether to pay a higher upfront fee for a lower interest rate. You can deeply analyze the winning loan using our loan amortization calculator.
Always compare the Annual Percentage Rate (APR) rather than just the nominal interest rate, as APR includes mandatory fees. If you are comparing housing loans, consider using our dedicated mortgage calculator for property-specific factors.
A frequent mistake is choosing a loan solely based on the lowest monthly payment while ignoring the total interest paid. Extending a loan term to lower payments can drastically increase the total cost, a principle explained in our mathematics of loan EMIs post.
The interest rate is the cost of borrowing the principal, while the APR includes the interest rate plus other fees and costs like origination fees.
Not necessarily. A lower monthly payment often means a longer loan term, which typically results in paying much more in total interest over time.
Origination fees can be worth it if they significantly lower your interest rate, provided you plan to keep the loan long enough for the interest savings to outweigh the fee.
Our tool calculates everything locally, meaning you can compare highly sensitive loan offers without sharing your financial data with third-party lead generators. For vehicle financing, you can also explore our auto loan calculator for more specific insights.
Follow this 3-step planning sequence to compare the current calculator with the next useful financial or career check.
Current calculation completed with your latest planning inputs.
Estimate residential Stamp Duty Land Tax for England and Northern Ireland.
Access all salary, tax, and career calculators in one unified hub.
Pair this calculator with related tools to compare salary, tax, savings, and career outcomes.
Create an estimated loan payment and amortization schedule with optional extra payments.
Calculate your monthly mortgage payments including principal, interest, taxes, and insurance.
Calculate your auto loan monthly payments, total interest, and amortized cost including sales tax and trade-ins.
Estimate payoff time and interest for a credit-card balance and monthly payment.
Compare Debt Snowball vs Debt Avalanche strategies to eliminate debt faster and save thousands in interest.
Calculate your monthly savings, break-even timeline, and total lifetime interest savings when refinancing your mortgage.
Understand the underlying formula of EMIs, the impact of compounding, and why early prepayments save you years of debt.
Explore our dedicated calculators to systematically plan your career, estimate taxes, and manage your financial growth.