Compare Different Loans by Calculating the Rates and Terms' Variation
Banks and other financial institutions give you the choice between different loans, and you don’t know which one to chose? The challenge in these situations is to pay the lowest amount of interest possible with a comfortable level of monthly payment. The dilemma when choosing a monthly payment is that an amount too low often comes with a high amount of interest to pay, but a high amount is hard to maintain and could put you in financial distress. With this calculator, you can compare different loans and choose the optimal rate and term that best matches your financial situation.
Please change the suggested values with your own in the blue text boxes.
Our financial calculators start with default values to suggest what to enter typically in each modifiable field, displayed as blue text boxes, in order to simulate a common scenario. Please change those values with your own. To keep track of your changes, the blue box will turn gray after they are modified.
You will also notice that our calculators behave like financial applications and recalculate automatically all values with each change instead of having to click on some extra button or going to a new result page, this is intentional and helps understand the effect of one change with the overall result in a more dynamic and instantaneous manner.
However, charts in our older calculators are not updated automatically, so if there is an "Update" button next to the chart, make sure to click on it after you make a change before you analyze it.