AllMarkets Trading

Loan comparison tools

Loan Term Comparison Calculator

Hold loan amount, rate and fees constant while comparing two repayment terms, monthly payments, interest and remaining balances.

Fixed-rate monthly model with entered assumptions. No lender quotes or credit checks.

Enter the assumptions

Net cash = base amount − withheld fees − separately paid upfront fees. Initial principal = base amount + financed fees. Enter every fee once, in its actual category. Zero means no such fee.

Rates use equal monthly periods. This date labels the schedule.

0 is time zero. 24 is immediately after the 24th monthly payment.

Only the term changes. All other base-loan assumptions are retained.

Base loan assumptions

Descriptive name; no account number needed.

Before financed fees. Withheld fees reduce cash from this amount.

Contract interest rate, not a fee-inclusive disclosed APR.

Whole months, 1–360.

Added to principal and repaid with interest. Not cash given to you.

Subtracted from base amount at time zero.

External cash paid at time zero, reducing initial net cash.

Added after regular payment, capped at remaining amount owed.

Import asks before replacing inputs and recalculates the saved assumptions. An old result snapshot is not trusted. Inputs stay in this page unless you download a file; no data is sent to a lender or saved to browser storage.

Change the repayment period while holding the loan assumptions

This comparison uses the same base amount, interest rate and fee entries for both schedules. Only the contractual term changes. Any entered extra monthly payment is retained in both schedules. The initial net cash therefore matches, making the dollar cost differences interpretable within the model.

A longer term generally spreads principal across more payments. It can lower the regular monthly amount while leaving principal outstanding longer. Total interest and principal still owed at a common date therefore matter alongside the monthly amount. A lender may quote a different rate for a different term; this particular tool intentionally does not assume such a repricing.

Compare the same horizon

Set the comparison month to a date relevant to the decision. The horizon view adds the payments made by that point to the remaining principal and subtracts initial net cash. If one schedule has finished earlier, its remaining principal is zero and its accumulated payments stay at the completed total.

There is no investment return on cash saved by a lower monthly payment, no discounting of the horizon cost and no future income assumption. If you need a present-value comparison, those are additional assumptions that this nominal-dollar view does not silently supply.

Check the final payment

The annuity payment is rounded to cents. In the contractual final month, the model pays remaining principal plus that month’s rounded interest. This can adjust the last regular amount by a few cents or more for extremely small balances. Extra payments cap at the amount owed and can complete the loan before either entered term.

Download both full ledgers and inspect the first, middle and final payment. The lower-payment schedule is not automatically labelled a winner; affordability, contractual conditions and future flexibility are not established by this model.

Limits shared by these schedules

Interest uses annual rate divided by twelve and monthly cent rounding. There is no daily accrual, variable rate, payment deferral, insurance, tax, delinquency cost or prepayment fee. The first due date labels equal monthly periods; it does not introduce an odd first-period interest calculation. Use the original quotation and payoff statement for contractual amounts.

Sources and definitions

The CFPB explains fees on personal instalment loans, why a monthly payment alone is insufficient for comparison and the distinction between interest and APR. These support the borrowing concepts. The specific monthly rounding, cash-flow rate calculation and invented examples are the original AllMarkets model, not a lender quote or a certified regulatory disclosure.

Read exact formulas and verification · Compare all four tools