Loan Comparison Calculator

Compare two loan offers on total cost, not headline rate, including fees and term. The result updates as you type so you can compare scenarios quickly.

The method

How it is worked out

Total = monthly payment × months + fees; APR from the cash flows including fees
APR
The rate that makes payments equal what you actually received

Keep in mind

What it leaves out

  • Early repaymentTerms differ on overpayments; check before choosing the long term.
  • Insurance add-onsExcluded; decline them unless you want them.

Use the calculator to compare scenarios rather than as a guaranteed forecast.

About the Loan Comparison Calculator

Compare two loan offers on what you actually repay, including fees, rather than on the headline rate or monthly payment.

How it works and an example to tryShow less

How to use the result

Monthly payments come from the amortisation formula; total cost is payment times months plus fees. APR including fees is solved from the cash flows.

Example to try

£15,000 at 7.9% over 36 months costs £16,860 in total; at 6.4% over 60 months with a £250 fee it costs £17,780. The lower rate is the dearer loan.

Put it to work

Try it on a real situation

Load an example

What moves the result most

    Worked out from your figures above. Tap a row to try it.

    Who uses it, and when

    Anyone comparing personal, car or business loan offers.

    Mistakes worth avoiding

    • Choosing the lower monthly payment without noticing the extra years of interest.
    • Ignoring arrangement fees, which the headline rate excludes.
    • Assuming both loans allow free overpayment.

    Questions

    What does the Loan Comparison Calculator do?

    Compare two loan offers on total cost, not headline rate, including fees and term.

    How should I use the result?

    Monthly payments come from the amortisation formula; total cost is payment times months plus fees. APR including fees is solved from the cash flows.

    Does TechBullion store the information I enter?

    The core calculation or transformation runs in your browser. Normal website security and analytics may still record page-level events, but the tool does not need to create a public record from your inputs.

    What mistakes do people make with a loan comparison calculator?

    Choosing the lower monthly payment without noticing the extra years of interest. Ignoring arrangement fees, which the headline rate excludes. Assuming both loans allow free overpayment.

    Is the result guaranteed?

    No. Use the result as a practical check or planning aid and verify important decisions with the relevant primary source, provider or professional advice.

    Part of the guide · Taking a loan · 15 tools

    Loans and debt

    Monthly payments, true APR and total cost for personal, car and student loans; the fastest way out of credit-card debt; and whether consolidating, transferring or overpaying actually saves money.

    Also under “Taking a loan”

    Loan CalculatorEMI CalculatorAPR CalculatorInterest Rate CalculatorWays to Borrow ComparisonLoan Overpayment Calculator
    Open the guide: all 15 tools

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    Results are estimates based on the figures entered, for general information only, and not financial, investment, tax or legal advice. See our terms of use.