Loan Comparison Calculator
Compares the total cost of two loans with different rates and fees.
Your result
Estimate only. Results update as you type.
How this calculator works
Total cost = monthly repayment × months + fees for each loan.
Worth knowing
On small or short loans, fees often matter more than a small difference in rate.
Guides for this calculator
- How the Loan Comparison Calculator Works (With a Worked Example)
- Getting the Most From a Loan Comparison Calculator: Tips and Common Errors
Questions
- What is a comparison rate?
- It combines the interest rate and most fees into one annual rate, usually based on a $30,000 loan over five years, to make loans easier to compare.
- Do the results include fees?
- Only where a fee input is shown. Add any known fees for a more realistic total.
- Where can I get help with debt?
- The National Debt Helpline (1800 007 007) offers free, confidential financial counselling.
This calculator gives general estimates using published Australian rates and formulas. It doesn’t consider your personal circumstances. Check current figures with the ATO, your state government or a qualified professional before making decisions. See our disclaimer.