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Knowing which type of loan is best for the borrower is a hard question to answer. Online comparison helps borrowers to understand the type of loans they are being offered and breakdown in easy-to-understand methods exactly which loan is best. Borrowers should never take the first loan they are offered. The option to compare online is definitely a tool that should be used before settling on one loan. The first and most important thing is to compare the interest rates. This important factor determines how much money the borrower will be paying back the lender. Always compare the repayment amount. It is amazing how much a half percent can change this amount. Other things to consider when using an online comparison is payment protection in case your employment is terminated or you become ill or have an accident. There are different rates for this protection and this can make a comparison change considerably. Comparing special introductory offers is a good idea also. Many times the offers are fantastic in the beginning, but once the introductory period is over the low interest rate you thought was a great deal at the start doubles in the end. These and other reasons are why online comparison charts make a huge difference in deciding on a loan before jumping right in.