Loan comparison calculator
Compare two loans by repayment, interest and fees, over the full term and over the time you expect to keep the loan.
Assumes fixed rates and monthly repayments. It ignores offset accounts, redraw, rate changes, discharge fees, cashback and tax. A lower total cost is not always the better loan, so check the lender's comparison rate and features. Not financial advice.
How this calculator works
For each loan the calculator works out the fixed repayment m = P × r ÷ (1 − (1 + r)−n), then totals interest and fees. Looking at the first few years matters because many people refinance or sell before the end of the term, and upfront fees are felt most in the early years.
Worked example: on $500,000, Loan A at 6.2% with no fees has a repayment of $3,062.34 and costs $602,444 over 30 years. Loan B at 6.0% with $1,000 upfront and $10 a month has a repayment of $2,997.75, interest of $579,191 and fees of $4,600, a total of $583,791. Loan B is cheaper by about $18,653 over the term, and ahead by about $3,411 after 5 years.
Sources and checks
You can cross-check results with:
Results can differ slightly from other tools because of rounding, fees and the assumptions each one makes.
Standard fixed-rate amortisation formula. Ignores offset accounts, redraw and rate changes.
Figures last checked: 29 October 2026. Spotted a mistake? Tell us.