Line of Credit Calculator

Compare the costs of a line of credit vs a loan. Use our Line of Credit calculator to estimate payments and interest.


Calculate your line of credit or loan payments.

Discover differences in funding types with the Line of Credit calculator.

To compare the costs associated with a line of credit versus a loan, you can use a Line of Credit calculator. This tool helps you estimate your monthly payments and total interest payments for each borrowing option based on factors like interest rates, repayment terms, and the amount borrowed. By inputting these variables into the calculator, you can see how different borrowing scenarios would impact your finances. This allows you to make an informed decision based on the total cost of borrowing, helping you choose the option that best aligns with your financial goals and budget.

Line of Credit Calculator is also available in French

Additional calculators to help with your planning include:

Loan Calculator
Debt Consolidation
Pay Down Debt or Invest

Line of Credit Calculator

Calculators are available in English and French. 

Borrowing Considerations

A line of credit and a loan serve distinct purposes based on how you access and repay borrowed funds. Discover what it means for your clients with the Line of Credit calculator.

Line of Credit
A line of credit provides flexibility, allowing you to borrow funds up to a predetermined limit whenever you need them. Unlike a loan where you receive a lump sum upfront, a line of credit lets you withdraw funds as needed, up to your approved limit. Interest is charged only on the amount you use, and you have the flexibility to repay and borrow again within the agreed terms. This makes a line of credit suitable for ongoing or unpredictable expenses like home renovations, education costs, or unexpected bills.

Fixed Loan Amounts
In contrast, a loan provides a fixed amount of money upfront in a single disbursement. This lump sum is typically used for specific purposes such as purchasing a car, consolidating debt, or financing a major project. Loans are structured with fixed repayment schedules, including both principal and interest, over a predetermined period. This predictability can make loans a preferred choice for one-time expenses where the amount needed is known upfront and a structured repayment plan fits the borrower’s financial situation.

Leaf IconThe calculator can be viewed for free up to five (5) times on this site.
To use the full-featured versions of these calculators in FreshPlan, please contact us.

Companion Infographic

This companion credit score infographic illustrates the factors involved in determining your credit score, and why a good score is important. This infographic is included in FreshPlan.

Credit Score Infographic


Consumer-facing and Accessibility
These consumer-facing financial calculators can be embedded in your web site quickly and easily.Complies with web accessibility standards.

Calculators are easy-to-use and fully responsive on any device – phone, tablet, laptop or desktop.

Full Branding
Calculators can be fully branded according to your branding style guide. You’ll be up and running with a quick turnaround.

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