Fixed Payment Loan Comparison Calculator for Comparing Up to Four Loans

Fixed Payment Loan Comparison Calculator Sign

This free online loan comparison calculator will calculate the payment amounts, total payments, and interest costs of up to four different loans at once, and will display the results in a side-by-side comparison chart.

The results also include an interest-cost-comparison bar chart as well as a button for creating a printer friendly report.

If you're not sure what the six factors are that determine the total interest costs of a loan, be sure to visit the Learn section the find out what they are.

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Fixed Payment Loan Comparison Calculator

Compare fixed payment loans that have different principal amounts, interest rates, and/or number of payments.

Special Instructions

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Frequency:Payment frequency:Fixed payment frequency:Fixed payment frequency:

Fixed payment frequency:

Select the payment frequency you would like to use for the comparison.

Loans to Compare

Loans to Compare:

For each loan you would like to compare, enter the following:

Principal: Dollar amount without the dollar sign or any commas.

Rate: Interest rate without the percent sign (for .06 or 6%, enter 6).

# Pmts: Number of payments that corresponds to the selected payment frequency.

Once you have all loans and terms entered, tap the Calculate Loan Comparison button.

#PrincipalRate# Pmts
Comparative Results

Comparative Results:

The chart below will compare the payment amount, total of all payments, and the interest cost for all loans entered in the section above this one.

Tap the Terms option to view the entered terms for each loan. Tap the Results option to change the chart back to the results.


If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Help and Tools


The six interest cost factors.

Interest Cost Factors

There are basically six factors that cause interest costs to vary from one fixed loan to another. They are:

  1. Amount borrowed
  2. Annual interest rate
  3. Compounding interval
  4. Payment frequency
  5. Payment amount
  6. Repayment term

Let's take a look at each factor separately.

Amount Borrowed

All other factors being equal, the more money you borrow (principal), the more you will pay in interest charges.

Annual Interest Rate

All other factors being equal, the higher the annual interest rate, the more you will pay in interest charges.


All other factors being equal, the longer you take to pay back the amount borrowed, the more you will pay in interest charges.

Payment Interval

All other factors being equal, the longer the time between payments, the more you will pay in interest charges.

Payment Amount

All other factors being equal, the smaller the payment amount, the more you will pay in interest charges.

Compounding Interval

All other factors being equal, the shorter the time between compounding the more you will pay in interest charges (the fixed loan comparison calculator assumes the compounding interval is the same as the payment interval).

Complex Comparison Simplified

Due to all of the factors involved, comparing one fixed payment loan to one or more other loans can be complicated.

For example, a loan with a higher principal may actually cost less if one or more of the other factors are more favorable than a lower principal loan.

But thanks to the calculator on this page, comparing loans with different principal, interest-rate and term factors is a snap.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.