Calculate Loan Payments, Graphs and Amortization Schedules

The loan comparison calculator will allow you to compare the monthly payment and total interest cost of up to four loans.

Simply enter the principal, the interest rate and the number of payments for each loan.

You can then see the monthly payments and total interest for you various options.

By having this side by side comparison, you can easily see the effects of different loan terms or interest rates. Extending a loan term for example will reduce the required monthly payment, but will result in more total interest, given the interest rate is constant.

A couple of assumptions made by the calculator is that the loans interest rate is constant and the required monthly payments are also constant.

The calculator also does not incorporate any loan fees or tax implications of the loans. As such the calculator should be used to get a general idea of a loan comparison, rather than a detailed financial breakdown of the actual loans you may be considering.

For a more detailed breakdown of the payments involved in a single loan, take a look at our loan amortization calculator.

This calculator will calculate the payments involved in a loan as well as producing a printable amortization schedule. This schedule breaks the loans payments down by the payment made from the principal as well as the interest components on the loan. The calculator also produces a number of graphs of financial metrics through time.