Free Online Loan Comparison Calculator
Compare two loans side-by-side instantly. Analyse monthly payments, total interest, and overall cost to find the best borrowing deal for your needs.
Compare Loan Options
Enter the details of both loan offers below. The calculator will instantly show you the true cost of each, helping you make an informed financial decision.
Loan Comparison Calculator
Side-by-side amortisation analysis
Comparison Results
Based on your inputs above
How to Compare Loans
Making an informed borrowing decision is simple when you have the right data at your fingertips.
Enter Loan Option A
Input the principal amount, the annual interest rate (or APR), and the proposed repayment term in years for your first loan offer.
Enter Loan Option B
Input the details of the alternative loan offer. You can compare different amounts, rates, or terms to see how they affect your budget.
Analyse the Savings
Review the side-by-side breakdown of monthly payments and total interest. The calculator will highlight the total amount saved by choosing the cheaper option.
Typical Loan Terms & Rates
A general guide to average interest rates and terms for common types of borrowing in the UK.
| Loan Type | Typical Term | Average APR Range | Best For |
|---|---|---|---|
| Personal Loan | 1 – 7 years | 3% – 15% | Debt consolidation, large purchases |
| Auto / Car Loan | 3 – 5 years | 4% – 10% | Buying a new or used vehicle |
| Mortgage (Fixed) | 25 – 35 years | 4% – 6% | Buying a residential property |
| Home Improvement | 5 – 10 years | 4% – 8% | Renovations, extensions, repairs |
| Credit Card (0% Purchase) | 12 – 24 months | 0% (then 20%+) | Short-term, interest-free financing |
Loan Calculator FAQ
Answers to the most frequently asked questions about comparing loans and understanding borrowing costs.
The interest rate is the cost of borrowing the principal loan amount. APR (Annual Percentage Rate) includes the interest rate plus any additional fees or charges associated with the loan, providing a more accurate picture of the total cost of borrowing.
A longer loan term will lower your monthly payments, making it more affordable month-to-month. However, it also means you will pay interest for a longer period, significantly increasing the total amount of interest paid over the life of the loan.
Yes, this calculator uses the standard amortisation formula, making it suitable for comparing personal loans, auto loans, mortgages, and other fixed-rate installment loans.
No. All calculations are performed locally in your web browser. We do not collect, store, or transmit any of the financial information you enter into the tool, ensuring complete privacy.