Loan Comparison Calculator
Compare two to four fixed-rate loan offers by payment, term, fees, total borrowing cost and estimated effective annual cost in one currency.
Compare two to four fixed-rate offers
| Offer | Monthly commitment | Total interest | Total fees | Total borrowing cost | Estimated effective annual cost | Result |
|---|
| Month | Opening balance | Interest | Scheduled payment | Fees | Closing balance |
|---|
Saved comparisons on this device
How each offer is calculated
Each offer uses the same cash amount required. The fixed monthly payment is calculated from the financed principal, nominal annual rate divided by 12 and number of months. Monthly and final fees are added to cash outflows. ToolBullet then annualises the complete entered cash-flow series.
- Fixed rate, equal monthly payments and no missed or early payments.
- No tax, insurance, optional add-ons, penalties or lender-specific rounding unless entered as fees.
- Estimated effective annual cost is not labelled or represented as official APR.
How the calculation works
This tool keeps the selected currency as a display and input context. It does not convert exchange rates, apply country-specific tax law or claim that a lender will reproduce the estimate exactly. Calculations run locally in the browser.
Read the loan comparison guide, fee treatment and cash-flow method →
Method reviewed 11 July 2026. Formula assumptions, practical examples and primary-source context are published in the linked guide and visible on this page.
Loan Comparison Calculator FAQ
What should I compare besides the monthly payment?
Compare the total borrowing cost, fees, term, amount financed and the timing of payments. A lower monthly commitment can cost more overall when the term is longer or fees are higher.
What is estimated effective annual cost?
It is ToolBullet’s annualised internal rate of return from the cash amount received and the entered payments and fees. It helps compare the modelled cash flows but is not a lender’s official or statutory APR.
How is an upfront setup fee treated?
When paid upfront, the fee reduces the net cash received at time zero and is also included in total fees and total borrowing cost. It does not increase the scheduled loan principal.
How is a financed setup fee treated?
When added to the loan, the fee increases the principal on which scheduled payments and interest are calculated. The borrower still receives the required cash amount entered.
Does the currency selector convert loan offers?
No. All compared offers must be entered in the same selected currency. The selector changes formatting only and does not retrieve exchange rates.
Can I compare variable-rate or interest-only loans?
Not in this version. The engine models fixed nominal annual rates with equal monthly principal-and-interest payments. Variable rates, balloon payments and interest-only periods require different cash flows.
Which offer is best?
The tool identifies the lowest modelled total cost and lowest monthly commitment separately. It does not decide which offer is suitable, available or affordable for you.