Manage Your Money

Master the skills that can help you manage money throughout life.

Compare Loans Before You Borrow

Use this online tool to weigh loan terms

Are you about to make a major purchase with a loan? The table below provides a loan comparison tool. If you are considering various loans, with different terms and interest rates, you can use this table to weigh your offers. Use this chart to compare only fixed annual percentage rates. Fill in information for up to 10 loans. Cells with an asterisk (*) will be filled in automatically when you click Calculate. You can also download a Loan Comparison Exercise (PDF) of this table and use it to record results provided with the online tool.

Loan Amount: $ Type of Loan: 
Lender Name APR (%) Term
(years)
Total
Interest
Owed
Total
Loan
Cost
Monthly
Payment
* * *
* * *
* * *
* * *
* * *
* * *
* * *
* * *
* * *
* * *



Note: This calculator applies to interest and principal only and does not include origination or other fees that may be associated with the cost of borrowing. Check with your lender about potential fees and consider them when calculating the total cost of your loan.

This calculator is provided for estimation purposes only.



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