Personal loans
Which personal-loan offer costs less?
Compare the cash you get, the full cost, and the monthly bill. A lower payment may last longer and cost more.
First set aside offers that do not cover your cash need. Then check cost and payment separately.
Compare three loan offers
Start with the cash you need after fees. Replace the example numbers with your offers. Use each fixed interest rate, not APR. You can turn off offer C if you have only two offers.
What the example shows
| Offer | Cash received | Payment | Term | Modeled cost |
|---|---|---|---|---|
| A: 10%, no fee | $10,000 | About $323 | 36 months | $1,616.19 |
| B: 12%, 3% deducted | $9,700 | About $263 | 48 months | $2,940.24 |
| C: 9%, 5% deducted | $9,500 | About $208 | 60 months | $2,955.01 |
Offer A has the lowest modeled cost and shortest term. Offer C has the lowest payment because repayment lasts longer.
Choose only if the cash and payment fit
Set aside offers that leave you short after fees. Of those left, check which payments fit beside rent, food, and other bills. The tool compares costs; it cannot check your budget.
Then compare the full cost and end date. Ask for offers that cover the same cash need so the costs are easier to compare. If none fits, pause and check another way to pay.
Read the terms before you choose.
Check the cash after fees, the payment beside your bills, and the full cost. If none fits, check another way to pay.
Method and sources
Each offer uses the same math as the personal-loan calculator. The tool names the lowest cost, lowest payment, and shortest loan only among offers that cover your cash need. It does not choose a lender or check whether you can afford the payment. It leaves out late fees, optional extras, and rate changes. It shows APR only when you enter it.
- CFPB guidance on personal installment loans — checked August 28, 2026.
- CFPB guidance on installment-loan fees — checked August 28, 2026.
- Regulation Z Appendix J — checked August 28, 2026.