Note: The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for a loan. It is advised that you consult your financial adviser before taking out a loan.
Loans can be confusing! Fees, interest rates, balances, and introductory interest rates can be difficult to decipher. Comparing two loans seems impossible.
The Loan Comparison Calculator here can guide you through the loan comparison process and help you make a decision about which one is best.
Using the Loan Comparison Calculator:
- Enter the details for each loan.
- Any upfront fees and ongoing annual fees.
- The introductory interest rate.
- How many months the introductory rate will last (intro term).
- The interest rate after the introductory term expires.
- The common loan details for each loan: Amount and terms.
The calculator will show your monthly payment amounts for each loan for the initial interest rate term and remainder of the loan. You can also see the total amount paid for each loan after interest.
Now you can easily see which loan is the better deal.
Tip: If your loans have closing costs involved such as a mortgage loans compare each of these items separately.