Loan Comparison Calculator
Compare two loan offers side by side to find the better deal.
2026 Tax YearData stays on your deviceUpdated Apr 1, 2026
$
Loan A
Loan B
Loan A saves $1,956.65
Loan A (6.5%, 48mo)
Monthly
$592.87
Total Interest
$3,457.94
Total Cost
$28,457.94
Loan B (8%, 60mo)
Monthly
$506.91
Total Interest
$5,414.59
Total Cost
$30,414.59
Frequently Asked Questions
What matters more — rate or term?
Both matter. A lower rate saves on interest, but a shorter term (even at a slightly higher rate) often costs less overall because you pay interest for fewer months.
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Built and reviewed by Konstantin Iakovlev · Data from CRA, CMHC, Bank of Canada · MethodologyDisclaimer: This calculator provides estimates based on publicly available data from CRA and other government sources. It does not constitute financial advice. Consult a qualified advisor for decisions about your specific situation.
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