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.