The method
How it is worked out
Cost = monthly payment × months + fees − amount, for each product
- monthly payment
- Amortised at each product's APR
Ways to Borrow Comparison
Compare a personal loan, a credit card and buy-now-pay-later for the same amount and payoff period, in total cost. The result updates as you type so you can compare scenarios quickly.
Keep in mind
What it leaves out
- AvailabilityBNPL rarely covers large amounts over long terms.
- Card minimumsPaying only the minimum takes far longer than the months entered.
- Credit scoreEach application can affect your score; a loan is one hard search.
Use the calculator to compare scenarios rather than as a guaranteed forecast.
About the Ways to Borrow Comparison
Compare a personal loan, a credit card and buy-now-pay-later for the same amount and repayment period, in total cost. The cheapest option changes with the amount and the term.
How it works and an example to tryShow less
How to use the result
Each product's monthly payment is amortised at its APR over the months entered; total cost is payments plus fees minus the amount borrowed. Products are ranked and the saving over the next-best is shown.
Example to try
Borrowing £3,000 over 12 months: a loan at 11.9% costs about £197, a card at 24.9% about £420, interest-free BNPL nothing if available for that amount and paid on time.
Put it to work
Try it on a real situation
Load an example
What moves the result most
Worked out from your figures above. Tap a row to try it.
Who uses it, and when
Anyone about to borrow a few hundred to a few thousand pounds for a purchase, repair or bill, and advisers explaining which product fits which situation.
Mistakes worth avoiding
- Assuming the card is cheapest because it is already in your wallet.
- Ignoring loan arrangement fees on short terms.
- Assuming BNPL is available for the amount and term you actually need.
Questions
What does the Ways to Borrow Comparison do?
Compare a personal loan, a credit card and buy-now-pay-later for the same amount and payoff period, in total cost.
How should I use the result?
Each product's monthly payment is amortised at its APR over the months entered; total cost is payments plus fees minus the amount borrowed. Products are ranked and the saving over the next-best is shown.
Does TechBullion store the information I enter?
The core calculation or transformation runs in your browser. Normal website security and analytics may still record page-level events, but the tool does not need to create a public record from your inputs.
What mistakes do people make with a ways to borrow comparison?
Assuming the card is cheapest because it is already in your wallet. Ignoring loan arrangement fees on short terms. Assuming BNPL is available for the amount and term you actually need.
Is the result guaranteed?
No. Use the result as a practical check or planning aid and verify important decisions with the relevant primary source, provider or professional advice.
Executive Insights
Leaders on this topic
Results are estimates based on the figures entered, for general information only, and not financial, investment, tax or legal advice. See our terms of use.