Loan A Payment
$396.02
Loan Comparison Calculator
Compare two loan offers side-by-side.
Total Cost Difference (A − B)
$562.08
Loan B Payment
$386.66
Loan A Total Interest
$3,761.44
Loan B Total Interest
$3,199.36
Loan B costs less overall.
How to use the Loan Comparison Calculator
The Loan Comparison Calculator is free and runs entirely in your browser — no sign-up, and nothing you enter leaves your device. It opens pre-filled with a realistic example, so you can see how it works before replacing any figure with your own; the results update as you type. Press Calculate to refresh the result panel, or Reset to return to the example.
The inputs it asks for:
- Loan A — Amount — a dollar amount.
- Loan A — Rate — a percentage (enter 6 for 6%).
- Loan A — Term (yrs) — a number.
- Loan B — Amount — a dollar amount.
- Loan B — Rate — a percentage (enter 6 for 6%).
- Loan B — Term (yrs) — a number.
Worked example
Using the example values — Loan A — Amount $20,000.00, Loan A — Rate 7%, Loan A — Term (yrs) 5, Loan B — Amount $20,000.00, Loan B — Rate 6%, Loan B — Term (yrs) 5 — the Loan Comparison Calculator returns a Total Cost Difference (A − B) of $562.08. It also reports Loan A Payment ($396.02), Loan B Payment ($386.66), Loan A Total Interest ($3,761.44).
Prefer your own numbers? Change any field above and this recomputes instantly.