Loan Comparison and Repayment Plan Guide
Two banks differ on the same amount and maturity through rates, fees and insurance; monthly instalments alone hide totals. This guide shows how to enter panel rates into the comparison tool and read total interest. Same-format inputs make scenarios compete fairly. Results are preliminary; verify against official schedules.
Step by step
- Enter identical amount and maturity in both scenarios.
- Take monthly rates, fees and insurance from current panels separately.
- Record interim payments and early-repayment terms in notes.
- Calculate; review instalment, total and interest side by side.
- If instalments strain budget, extend one step and rebalance.
- Reconcile the table with the bank draft schedule.
Example scenario
A 500,000 TL loan over 24 months at 3.49 percent monthly (bank A) versus 3.79 percent (bank B): A gives about 31,100 TL monthly and 746,400 TL total; B gives about 32,085 TL monthly and 770,040 TL total. Monthly gap 985 TL, total gap 23,640 TL.
Check your result
Verify monthly vs annual rates and fee inclusion. Entering 3.49 as annual distorts everything. With insurance added, the lowest rate may not be cheapest.
Frequently asked questions
Where do rates come from?
Always the current bank panel; note date used.
Include fees?
Yes, they raise totals independently.
Longer maturity better?
Payments fall but total interest rises substantially.
Interim payments?
They cut principal early and lower totals.
Same instalments?
Totals, interest and flexibility decide.
Open the tool: Loan Comparison and Repayment Plan →
Keep an original copy before processing your file. Examples are illustrative; results depend on your document.