How to Use the Loan Comparison Calculator
Enter Loan 1 Details
- Loan Amount: Input the total amount you wish to borrow.
- Loan Term: Specify the duration over which you plan to repay the loan.
- Interest Rate: Enter the proposed interest rate.
Enter Loan 2 Details
- Loan Amount: Input the total amount you wish to borrow.
- Loan Term: Specify the duration over which you plan to repay the loan.
- Interest Rate: Enter the proposed interest rate.
After entering the details for each loan scenario, the calculator will display a side-by-side comparison of the total repayments, the total interest payable, and other vital metrics. Use this information to assess which loan option is the most beneficial in terms of interest savings, repayment affordability, and overall cost.
Benefits of Comparing Loan Options
Our Loan Comparison Calculator enhances this process by providing several benefits. It enables you to make informed choices by offering insights into how different loan options compare against each other. The calculator is designed for customisation, allowing you to input specific details of your loan scenarios for a personalised comparison. This feature aids in better financial planning, as you can clearly understand how your loan choice fits into your broader financial strategy. Most importantly, the calculator helps you identify the loan option that could potentially save you the most money over time, aligning with your financial objectives and helping you to manage your finances more effectively.
The Loan Comparison Calculator is part of Atelier Wealth’s suite of tools aimed at empowering you with the knowledge and resources needed for effective financial management. Whether you’re planning to apply for a home loan, refinance, or expand your investment portfolio, understanding your tax obligations is a key step in achieving your financial goals.
*The results from this calculator should be used as an indication only. Results do not represent either quotes or pre-qualifications for the product. Individual institutions apply different formulas. Information such as interest rates quoted and default figures used in the assumptions are subject to change.
