Loan Comparison Calculator: How to Choose the Best Personal Loan 2026

When you're shopping for a personal loan, comparing offers isn't as simple as finding the lowest interest rate. Two loans with the same rate can have dramatically different costs depending on fees, terms, and repayment structures.

This comprehensive guide covers how to properly compare personal loans using APR vs. interest rate, evaluating loan terms and fees, calculating true cost comparisons, spotting predatory loans, and real-world scenarios to help you choose the best loan for your financial situation.

Table of Contents

1. Why Loan Comparison Matters
2. APR vs. Interest Rate
3. How to Compare Loan Offers
4. Loan Fees to Watch For
5. Loan Term Considerations
6. Fixed vs. Variable Rate Loans
7. Red Flags and Predatory Loans
8. Real Loan Comparison Examples

Why Loan Comparison Matters

The Cost of Not Comparing

Example: $20,000 personal loan, not shopping around

Lender A (what you accept):

• Rate: 12% APR
• Term: 5 years
• Payment: $445/month
• Total paid: $26,700
• Interest: $6,700

Lender B (if you'd compared):

• Rate: 8% APR
• Term: 5 years
• Payment: $406/month
• Total paid: $24,360
• Interest: $4,360

Cost of not comparing: $2,340

Time spent comparing: 1-2 hours

Value of your time: $1,170/hour!

What Makes One Loan Better

Consider all factors, not just rate:

✓ APR (true cost including fees) ✓ Monthly payment (affordability) ✓ Total interest (long-term cost) ✓ Fees (origination, prepayment, late fees) ✓ Term length (flexibility vs. cost) ✓ Prepayment flexibility (can you pay off early?) ✓ Rate type (fixed vs. variable) ✓ Lender reputation (customer service, transparency)

Best loan = optimal balance of these factors for YOUR situation.

Common Loans to Compare

Personal loans:

• Debt consolidation
• Home improvement
• Major purchase
• Emergency expense

Auto loans:

• New car purchase
• Used car
• Refinance existing

Student loans:

• Private student loans
• Refinance student loans

This guide focuses on personal loans, but principles apply to all loan types.

APR vs. Interest Rate

Understanding the Difference

Interest Rate: The cost to borrow money, expressed as percentage of principal.

Example: 10% interest rate on $10,000 = $1,000/year in interest

APR (Annual Percentage Rate): Total cost of borrowing including interest PLUS all fees, expressed as annual percentage.

Formula:

APR = [(Interest + Fees) / Loan Amount / Term in Years] × 100

Why APR matters: Two loans with same interest rate can have different APRs due to fees.

Example: Interest Rate vs. APR

Loan A:

• Amount: $15,000
• Interest rate: 8%
• Origination fee: $750 (5%)
• Term: 3 years

Simple interest: 8%

APR calculation:

• Total interest over 3 years: ~$1,950
• Plus origination fee: $750
• Total cost: $2,700
• APR: 9.14% (higher than interest rate!)

Loan B:

• Amount: $15,000
• Interest rate: 9%
• Origination fee: $0
• Term: 3 years

Simple interest: 9%

APR calculation:

• Total interest: ~$2,160
• No fees
• APR: 9% (same as interest rate)

Even though Loan A has lower interest rate (8% vs. 9%), Loan B has better APR and lower total cost!

When to Focus on APR

APR is most useful when:

• Comparing loans with different fees
• Short-term loans (fees have bigger impact)
• You'll keep loan for full term

APR is less useful when:

• You plan to pay off early (fees matter more than APR)
• Comparing loans with different terms
• Variable rate loans (APR is just starting point)

APR Comparison Table

$20,000 loan, 5-year term comparisons:

| Lender | Interest Rate | Origination Fee | APR | Monthly Payment | Total Cost | |--------|---------------|-----------------|-----|-----------------|------------| | Lender A | 7.5% | $1,000 (5%) | 9.01% | $400 | $24,000 | | Lender B | 8% | $600 (3%) | 9.15% | $406 | $24,360 | | Lender C | 8.5% | $0 | 8.5% | $412 | $24,720 | | Lender D | 9% | $0 | 9% | $415 | $24,900 |

Best loan: Lender A (lowest total cost despite mid-range interest rate)

Lesson: Always compare APR and total cost, not just interest rate.

How to Compare Loan Offers

Step 1: Standardize the Comparison

Make apples-to-apples comparison:

Keep these constant:

• Loan amount
• Loan term (initially)
• Your credit score assumption

Example:

• Shopping for: $15,000
• Preferred term: 3 years
• Your credit: 720 (Good)

Request quotes from 3-5 lenders using same parameters.

Step 2: Create Comparison Spreadsheet

Column headings:

1. Lender name
2. Interest rate
3. APR
4. Origination fee
5. Monthly payment
6. Total interest
7. Total cost
8. Other fees
9. Prepayment penalty
10. Notes

Fill in all offers side-by-side.

Step 3: Calculate Key Metrics

For each loan, calculate:

Total Interest:

Total Interest = (Monthly Payment × Term in Months) - Loan Amount

Total Cost:

Total Cost = Total Interest + All Fees

Effective Monthly Cost:

Effective Monthly = (Loan Amount + Total Cost) / Term in Months

Cost Per $1,000 Borrowed:

Cost Per $1K = Total Cost / (Loan Amount / 1000)

Step 4: Compare Side-by-Side

Example: $25,000 loan, 4-year term

Offer 1 - Online Lender:

• APR: 7.99%
• Origination: $0
• Monthly: $610
• Total interest: $4,280
• Total cost: $4,280
• Prepayment: No penalty

Offer 2 - Credit Union:

• APR: 8.25%
• Origination: $250
• Monthly: $616
• Total interest: $4,568
• Total cost: $4,818
• Prepayment: No penalty

Offer 3 - Bank:

• APR: 9.5%
• Origination: $1,250
• Monthly: $632
• Total interest: $5,336
• Total cost: $6,586
• Prepayment: No penalty

Offer 4 - Peer-to-Peer:

• APR: 7.5%
• Origination: $1,000
• Monthly: $604
• Total interest: $3,992
• Total cost: $4,992
• Prepayment: No penalty

Winner: Offer 1 (Online Lender)

• Lowest total cost: $4,280
• Lowest monthly payment: $610
• No origination fee
• Competitive APR

Savings vs. worst offer: $2,306 ($6,586 - $4,280)

Step 5: Consider Soft Factors

Hard numbers aren't everything:

Lender reputation:

• Check reviews (Trustpilot, BBB)
• Customer service quality
• Ease of application
• Funding speed

Flexibility:

• Can you skip a payment if needed?
• Hardship programs available?
• Easy payment options?
• Refinance options?

Account features:

• Online access quality
• Mobile app
• Autopay discount
• Payment reminders

Sometimes worth paying slightly more for better service.

Step 6: Read the Fine Print

Before signing, verify:

✓ Final APR matches quote ✓ No hidden fees ✓ Prepayment terms clear ✓ Late payment fees disclosed ✓ Default terms understood ✓ Variable rate caps (if applicable)

Red flag: Lender unwilling to provide clear documentation before signing.

Loan Fees to Watch For

Origination Fee

Most common loan fee.

What it is: Upfront fee charged to process loan, typically 1-10% of loan amount.

How it's charged:

• Deducted from loan proceeds (you receive less than you borrowed)
• Added to loan balance (you pay interest on the fee)
• Charged separately upfront

Example: $20,000 loan, 5% origination fee = $1,000

Option A: Deducted from proceeds

• Loan: $20,000
• Fee: $1,000 deducted
• You receive: $19,000
• But you owe $20,000 plus interest

Bad deal: Borrowing $20K but only getting $19K.

Option B: Added to balance

• Loan: $20,000
• Fee: $1,000 added
• Total owed: $21,000
• You receive: $20,000

Better, but you're paying interest on the fee for life of loan.

Best: $0 origination fee

Typical ranges:

• Good credit: 0-2%
• Fair credit: 3-6%
• Poor credit: 6-10%

Negotiation tip: Ask if fee can be waived or reduced for excellent credit or relationship customer.

Application/Processing Fees

What it is: Fee to review and process your application.

Typical amount: $25-$100

Red flag: Legitimate lenders rarely charge application fees for personal loans.

Never pay application fee before loan approval.

Prepayment Penalty

What it is: Fee charged if you pay off loan early.

Why lenders charge it: They lose interest income when you pay early.

Typical structure:

• X% of remaining balance
• X months of interest
• Sliding scale (decreases over time)

Example: $30,000 loan, 3% prepayment penalty

You pay off after 2 years:

• Remaining balance: $12,000
• Penalty: $12,000 × 3% = $360 penalty

Avoid if possible. Choose loans with no prepayment penalty, especially if you plan to pay off early.

Late Payment Fee

What it is: Charged when payment is late.

Typical amounts:

• Fixed: $25-$50
• Percentage: 5% of payment
• Whichever is greater

Example: Payment: $400 Late fee: $50 or 5% ($20) = $50 charge

Grace period: Most lenders allow 10-15 day grace period before charging late fee.

Impact beyond fee:

• Reported to credit bureaus after 30 days late
• May trigger default if severely late
• Could increase interest rate (variable loans)

Avoid by: Setting up autopay.

Annual/Monthly Maintenance Fees

What it is: Ongoing fee to maintain loan account.

Typical: $5-$15/month or $50-$150/year

Common in: Lines of credit, some personal loans

Example impact: $10/month fee over 5-year loan = $600 extra cost

Adds to total cost: Include in comparison calculations.

Insufficient Funds (NSF) Fee

What it is: Charged when payment bounces due to insufficient funds.

Typical: $30-$50 per occurrence

Avoid by:

• Autopay from account with buffer
• Payment reminders
• Multiple payment dates (flexibility)

Loan Protection Insurance (Optional)

What it is: Insurance that pays loan if you die, become disabled, or lose job.

Cost: 1-5% of loan amount annually

Example: $20,000 loan, 2% insurance = $400/year = $2,000 over 5 years

Usually not worth it:

• Expensive
• Limited coverage
• Better to have term life insurance and emergency fund

Never required: Lender cannot require as condition of approval.

Loan Term Considerations

Short-Term vs. Long-Term Loans

Short-term (1-3 years):

Pros:

• Pay off debt faster
• Less total interest
• Sooner debt-free

Cons:

• Higher monthly payment
• Less budget flexibility
• Harder to qualify

Long-term (5-7 years):

Pros:

• Lower monthly payment
• Easier to afford
• Budget flexibility

Cons:

• More total interest
• Longer commitment
• Risk of paying on depreciating asset longer

Impact of Loan Term on Cost

Example: $20,000 personal loan at 9% APR

| Term | Monthly Payment | Total Interest | Total Paid | Interest as % of Loan | |------|-----------------|----------------|------------|-----------------------| | 2 years | $913 | $1,912 | $21,912 | 9.6% | | 3 years | $636 | $2,896 | $22,896 | 14.5% | | 4 years | $498 | $3,904 | $23,904 | 19.5% | | 5 years | $415 | $4,900 | $24,900 | 24.5% | | 7 years | $317 | $6,628 | $26,628 | 33.1% |

Difference: 2 years vs. 7 years = $4,716 in extra interest

Breakeven analysis:

2-year payment: $913 5-year payment: $415
Monthly savings: $498

But total extra cost: $2,988

It takes 6 months of $498 savings to equal the extra cost of longer term.

Finding the Right Term

Factors to consider:

1. Monthly budget capacity: What can you comfortably afford?

Rule of thumb: Loan payment should not exceed 15-20% of take-home pay.

Example:

• Take-home: $4,500/month
• Max loan payment: $675-$900

2. Total cost tolerance: How much interest are you willing to pay?

3. Loan purpose: Match term to useful life of purchase.

Examples:

• Debt consolidation: 3-5 years
• Home improvement: 5-7 years (adds home value)
• Vacation: 1-2 years max (don't pay for memories for years)
• Car: 3-5 years (don't exceed car's useful life)

4. Financial goals: Will this loan prevent other goals (retirement, home purchase)?

5. Job stability: Less stable = shorter term (in case of income loss)

Strategy: Start Shorter, Refinance if Needed

Instead of: Choosing longest term for "safety"

Consider:

• Choose moderate term you can afford
• Make extra payments when possible
• If circumstances change, can refinance to longer term

Benefit: Save interest while maintaining flexibility.

Fixed vs. Variable Rate Loans

Fixed-Rate Loans

How it works: Interest rate stays same for entire loan term.

Pros:

• Predictable monthly payment
• Budget certainty
• Protected from rate increases
• Simple to understand

Cons:

• Usually higher starting rate than variable
• Don't benefit if rates drop
• May have higher prepayment penalties

Best for:

• Prefer stability
• Rising rate environment
• Long-term loans (5-7 years)
• Tight budget (need payment certainty)

Example: $25,000 loan, 8.5% fixed, 5 years

• Payment: $513/month (same every month)
• Total interest: $5,780
• No surprises

Variable-Rate Loans

How it works: Interest rate changes based on index (typically Prime Rate).

Structure: Rate = Index + Margin

Example: Prime (7.5%) + Margin (2%) = 9.5% current rate

Pros:

• Usually lower starting rate
• Can save money if rates decrease
• May have lower fees

Cons:

• Payment changes (unpredictable budget)
• Risk of rates increasing significantly
• Harder to plan long-term
• Caps may be high (18%+)

Best for:

• Expect to pay off quickly
• Rates declining
• Can handle payment increases
• Short-term loans (1-3 years)

Example: $25,000 loan, 7.5% variable, 5 years

Year 1: 7.5% rate, $500/month Year 2: 8.5% rate, $512/month (+$12) Year 3: 9.5% rate, $525/month (+$13) Year 4: 10.5% rate, $540/month (+$15) Year 5: 11.5% rate, $556/month (+$16)

Total interest: ~$7,100 (varies)

Comparison: Fixed (8.5%): $5,780 interest Variable (started 7.5%, increased to 11.5%): $7,100 interest

Variable cost MORE because rates rose.

Rate Caps on Variable Loans

Important protections:

Initial rate: Starting rate

Periodic cap: Maximum increase per adjustment period

Example: 2% per year

Lifetime cap: Maximum rate over loan life

Example: Initial rate + 10%

Floor: Minimum rate (can't go below)

Example caps:

• Initial rate: 7%
• Periodic cap: 2% per year
• Lifetime cap: 18%

Worst case scenario: Rate could reach 18% (7% + multiple 2% increases over time)

On $20,000 loan:

• At 7%: $396/month
• At 18%: $508/month (+28%)

Always calculate worst-case payment before choosing variable rate.

Red Flags and Predatory Loans

Warning Signs of Predatory Lending

🚩 Red Flag 1: Upfront fees before approval

Legitimate lenders don't charge fees before deciding to lend.

Scam tactics:

• "Application fee" of $100-$500
• "Insurance fee" to "guarantee" approval
• "Processing fee" before loan funded

Never pay money before receiving loan.

🚩 Red Flag 2: Guaranteed approval regardless of credit

Claims like:

• "Bad credit? No credit? No problem!"
• "Everyone approved!"
• "No credit check!"

Reality: Legitimate lenders always check credit and ability to repay.

These are often:

• Scams (take fee, disappear)
• Predatory loans with 400%+ APR
• Front for advance-fee fraud

🚩 Red Flag 3: Extremely high APR (over 36%)

Most state usury laws cap loans at 36% APR.

If APR is 100%, 200%, 400%+: This is predatory, possibly illegal.

Example of predatory:

• $1,000 loan
• APR: 400%
• 6-month term
• Payment: $250/month
• Total repaid: $1,500

You pay $500 to borrow $1,000 for 6 months!

Alternatives to high-APR loans:

• Credit union personal loan
• Payday alternative loan (PAL)
• Borrow from family
• Payment plan with creditor
• Side gig for extra income

🚩 Red Flag 4: Pressure to decide immediately

Tactics:

• "This rate only good for next hour!"
• "Sign now or lose the offer!"
• "Limited availability!"

Legitimate lenders: Give you time to review documents, compare offers, ask questions.

Take your time. Never sign under pressure.

🚩 Red Flag 5: Unclear terms or documentation

Warning signs:

• Unwilling to provide written terms before signing
• Documents have blank spaces
• Terms different from what was discussed
• Confusing jargon and fine print
• Fees not clearly disclosed

Before signing, ensure:

• All terms in writing
• APR clearly stated
• Payment schedule provided
• All fees itemized
• Prepayment terms clear

🚩 Red Flag 6: Loan flipping

What it is: Lender encourages you to repeatedly refinance, charging new fees each time.

Example:

• Original loan: $10,000
• Year 1: "Refinance to lower payment!" → +$500 fee
• Year 2: "Refinance again for cash out!" → +$600 fee
• Year 3: "One more refinance!" → +$700 fee

Result: You've paid $1,800 in fees, still owe close to original amount.

Protect yourself: Avoid frequent refinancing unless rates drop significantly.

🚩 Red Flag 7: Mandatory add-ons

Illegitimate requirements:

• Must buy credit insurance
• Must open checking account
• Must use their financial advisor
• Must buy other products

Legal truth: Lender cannot require purchase of other products as condition of loan.

Payday Loans: The Worst Predatory Loan

How they work:

• Borrow $300-$500
• Due on next payday (2 weeks)
• Fee: $15-$30 per $100 borrowed

Sounds small, but:

Example:

• Borrow: $400
• Fee: $60 (15%)
• Due in 2 weeks

APR calculation: $60 fee on $400 for 2 weeks = 391% APR

The trap: Can't repay on payday → Roll over → New fee → Cycle continues

Average payday loan borrower: Takes 10 loans per year, pays $520 in fees to borrow $375.

Avoid payday loans at all costs.

Real Loan Comparison Examples

Example 1: Debt Consolidation Loan

Situation:

• Need: $18,000 to pay off credit cards
• Credit score: 680 (Fair)
• Income: $65,000
• Goal: Lower monthly payment, pay off debt

Offer Comparison:

Option A - Online Lender (SoFi, LightStream):

• APR: 11.99%
• Origination: $0
• Term: 5 years
• Payment: $399/month
• Total interest: $5,940
• Total cost: $5,940
• No prepayment penalty
• Funding: 2-3 days

Option B - Credit Union:

• APR: 12.5%
• Origination: $270 (1.5%)
• Term: 5 years
• Payment: $405/month
• Total interest: $6,300
• Total cost: $6,570
• No prepayment penalty
• Funding: 5-7 days

Option C - Traditional Bank:

• APR: 14.99%
• Origination: $900 (5%)
• Term: 5 years
• Payment: $429/month
• Total interest: $7,740
• Total cost: $8,640
• 3% prepayment penalty first 2 years
• Funding: 7-10 days

Option D - Peer-to-Peer (Prosper, LendingClub):

• APR: 13.75%
• Origination: $720 (4%)
• Term: 5 years
• Payment: $418/month
• Total interest: $7,080
• Total cost: $7,800
• No prepayment penalty
• Funding: 3-5 days

Winner: Option A (Online Lender)

• Lowest total cost: $5,940
• Lowest monthly payment: $399
• No origination fee
• Fast funding
• No prepayment penalty

Savings vs. worst option: $2,700

Decision: Option A is clear winner on all metrics.

Example 2: Home Improvement Loan

Situation:

• Need: $35,000 for kitchen remodel
• Credit score: 750 (Good)
• Home equity: $150,000
• Goal: Lowest total cost, moderate term

Offer Comparison:

Option A - Personal Loan (7-year):

• APR: 8.5%
• Payment: $519/month
• Total interest: $8,596
• Total cost: $8,596
• Unsecured (no home collateral)

Option B - Home Equity Loan (15-year fixed):

• APR: 7.25%
• Payment: $324/month
• Total interest: $23,320
• Total cost: $23,320
• Secured by home
• Tax-deductible interest (if qualifies)

Option C - HELOC:

• Draw period: 10 years, interest-only
• Repayment: 15 years
• Rate: Variable, currently 8%
• Draw phase payment: $233/month
• Repayment phase: $411/month
• Total interest: ~$23,000
• Total cost: ~$23,000
• Secured by home
• Variable rate risk

Option D - Personal Loan (5-year):

• APR: 7.99%
• Payment: $712/month
• Total interest: $7,720
• Total cost: $7,720
• Unsecured
• Higher payment, but paid off faster

Analysis:

Lowest monthly payment: Option C (HELOC, $233 during draw) Lowest total cost: Option D (5-year personal, $7,720) Best balance: Option D

Why Option D wins:

• Total cost only $876 more than Option A
• Paid off in 5 years vs. 7 years
• No home collateral risk
• Fixed payment
• $712/month affordable on good income

Decision: Option D - pay more monthly to save long-term and be debt-free sooner.

Example 3: Medical Debt Consolidation

Situation:

• Medical bills: $12,000
• Credit score: 620 (Fair)
• Income: $48,000
• Goal: Affordable payment, avoid collections

Offer Comparison:

Option A - Personal Loan:

• APR: 18.99%
• Origination: $720
• Term: 4 years
• Payment: $361/month
• Total interest: $5,608
• Total cost: $6,328

Option B - Medical Financing (CareCredit):

• APR: 0% for 24 months (promotional)
• Then 27.99% on remaining balance
• Payment needed: $500/month to pay in 24 months
• If paid in 24 months: $0 interest
• If not paid: Back-interest charged on original balance

Option C - Payment Plan with Hospital:

• Interest: 0%
• Fee: $250 setup
• Payment: $350/month for 36 months
• Total cost: $250

Option D - Credit Card Balance Transfer:

• 0% APR for 18 months
• Balance transfer fee: $360 (3%)
• Must pay $667/month to pay off in 18 months
• After 18 months: 24.99% APR
• Total cost if paid in 18 months: $360

Analysis:

Best option if can afford: Option C (Hospital Payment Plan)

• Lowest total cost: $250
• No interest
• Affordable payment: $350/month
• 3-year term

Second best if can't afford $350/month: Option B (Medical Financing)

• But ONLY if can pay $500/month reliably
• Risk: If miss payments, hit with 27.99% on full balance

Avoid: Option A (Personal Loan at 19% APR)

• Very expensive
• High fees
• Total cost over $6,000 on $12,000 debt

Decision: Negotiate payment plan directly with hospital first before taking any loan.

Example 4: Wedding Loan Comparison

Situation:

• Need: $15,000 for wedding
• Credit score: 720
• Income: $75,000 (couple)
• Goal: Pay off before honeymoon starts (1 year)

Offer Comparison:

Option A - 1-Year Personal Loan:

• APR: 9.5%
• Payment: $1,313/month
• Total interest: $756
• Total cost: $756

Option B - 3-Year Personal Loan:

• APR: 8.5%
• Payment: $473/month
• Total interest: $2,028
• Total cost: $2,028

Option C - 0% Credit Card (18-month promo):

• APR: 0% for 18 months
• Balance transfer fee: $450
• Payment needed: $858/month to pay in 18 months
• If paid in 18 months: $450 total cost
• After 18 months: 21.99% APR

Option D - No Loan - Save First:

• Delay wedding 12 months
• Save $1,300/month
• Interest earned: ~$100
• Total cost: -$100 (you earn interest)

Analysis:

Absolute best: Option D (Save first)

• No debt
• No interest paid
• Start marriage debt-free

If must borrow: Option C (0% credit card)

• Total cost: $450
• But must pay $858/month reliably
• Risk if can't pay off in 18 months

Most realistic: Option A (1-year loan)

• Similar payment to credit card ($1,313 vs. $858)
• No risk of promotional rate expiring
• Only $756 interest
• Guaranteed paid off in 1 year

Worst: Option B (3-year loan)

• Low payment looks attractive
• $2,028 interest to finance wedding
• Paying for wedding for 2 years after event

Recommendation: Either save first (Option D) or take 1-year loan (Option A). Avoid long-term debt for one-day event.

Key Takeaways

✓ APR, not interest rate: Always compare APR which includes fees for true cost comparison

✓ Total cost matters most: Lowest monthly payment often means highest total cost due to longer term

✓ Loan term trade-off: Shorter term = higher payment but less interest; longer term = lower payment but more interest

✓ No origination fee: Prioritize loans with zero or low origination fees—can save thousands

✓ No prepayment penalty: Choose loans that allow early payoff without fees for maximum flexibility

✓ Fixed vs. variable: Fixed rates provide certainty; variable rates are risky in rising rate environment

✓ Beware predatory lenders: Avoid anything with upfront fees, guaranteed approval regardless of credit, or APR over 36%

✓ Compare at least 3-5 offers: 1-2 hours of comparison can save thousands over loan life

Conclusion

Comparing personal loans effectively requires looking beyond the advertised interest rate to understand the complete picture: APR, fees, loan term, payment flexibility, and lender reputation. The lowest interest rate doesn't always mean the best deal—a loan with no origination fee and flexible prepayment can save you thousands compared to a slightly lower rate with high fees.

The most successful borrowers take time to gather multiple quotes, create side-by-side comparisons, calculate total costs, and read the fine print before signing. While it requires a few hours of research, the return on that time investment is often $1,000-$5,000 in savings—making it one of the highest-value activities you can do.

Whether you're consolidating debt, financing a home improvement, or covering an unexpected expense, use our loan comparison calculator to input different offers and see exactly which loan will cost you the least over its lifetime.

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• How to Get the Best Personal Loan Rate
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