Loan Comparison Calculator
Compare two loans side by side to see the difference in repayments, total interest and total cost.
Disclaimer
This calculator provides estimates for general information purposes only. Results should not be relied upon as professional financial, tax, or legal advice. Tax rates and thresholds are based on publicly available ATO data and may change. Always consult a qualified tax agent or financial adviser for advice specific to your circumstances.
Frequently Asked Questions
Should I choose the loan with the lowest interest rate?
When should I refinance my home loan?
What is Loan Comparison?
A loan comparison calculator lets you compare two loans side by side to see which offers better value, considering the interest rate, loan amount, term, and total cost over the life of the loan.
How this calculator works
Enter the details for Loan A and Loan B — amount, rate, and term for each. The calculator computes monthly repayments, total amount repaid, and total interest for both. The winner badge highlights which loan saves you more and by how much per month. The comparison table makes it easy to see the difference in total interest — even a 0.5% rate difference on a $500,000 loan can mean $50,000+ in savings over 30 years. Use this when comparing lender offers or evaluating whether refinancing is worth the switching costs.
All calculations are performed in your browser — your data never leaves your device. Results are for general guidance only and should not be considered professional financial advice.
Built and maintained by Konstantin Iakovlev. Data sourced from the ATO and official Australian government sources.