Loan Comparison Calculator

Compare two loans with different interest and fees over a common amount and term, and determine which is the cheapest in total fees and interest over the life of the loan.

Conclusion: Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency. This calculator does not take into account some loan features such as redraw facilities and offset accounts etc.

Frequently asked questions

What does the Home Loan Comparison Calculator show?

The Home Loan Comparison Calculator compares two home loans to figure out which one has the lower interest costs over the life of the loan. To compare loans, the calculator requires user inputs including Loan Type (fixed, or variable), interest rate, and fees.

Who should use the Home Loan Comparison Calculator?

Anyone settling on the structure of their home loan or picking between various home loan providers may benefit from the Loan Comparison Calculator.

How to use the home loan comparison calculator?

The loan comparison calculator is user-friendly and gives you quick results. You should simply input the required data and you’ll get your comparisons of the two given loans.

Why should I use the loan comparison calculator?

When you’re ready to go into a new home loan but are stuck settling on a couple of various choices, you can try using the quick and simple loan comparison calculator and let it work out the numbers for you. When you get the results you’ll be able to see which home loan gives you the best overall deal.