As the name indicates, the EZ Loan Calc and the Simple Loan Calculator are iPhone applications that help you easily determine the monthly payments you need to make for a loan. In order to estimate the premiums on your loans accurately, both applications will require the user to type in the overall amount of the loan and the period of time that you are expected to pay off the money you borrowed. While the EZ Loan Calc will ask you to type in the deductible as well as the interest rate, the Simple Loan Calculator will require the user to type the annual interest rate.
The developer of the Simple Loan Calculator is Clean Micro, LLC, which is a small software company that specializes in books, traveling, sports, education, navigation and finance applications, such as Score DMV, iShake Weight, the Ghost Tour of San Francisco, Singapore S Mat, Taxi Guide and so on.
The developer of the EZ Loan Calc is JMHammond, a software developer that focuses on creating applications in categories such as photography, lifestyle, sports, games, navigation and finances. JMHammond is the developer of other fun and useful applications like SeekCache, Camera Vault, ZombieSim, SeeThruWeb and Cameleon Cam.
Head2Head: A comparison of app features between EZ Loan Calc and Simple Loan Calculator
Both iPhone applications include free and upgraded versions. The free versions include the basics on any loan calculator that come in handy regardless of whether you are looking for a mortgage, car, student or personal loan. Even though the paid versions are less than one dollar, the truth is that they only bring in only a few extra options.
One great thing about EZ Loan Calc is that you can check the amount you owe for a loan anytime you want, by either looking at the bottom of the display screen or checking out the amortization table menu. In addition, this application seems to be very useful when you are trying to calculate the payments on the mortgage, as this type of loans usually includes other taxes as well. In addition, the paid version of the EZ Loan Calc allows you to save your previous calculations and use them to compare loans.
Even though these features are not included in the Simple Loan Calculator, the advantage of purchasing this iPhone application is that, for starters, it allows you to add the due dates on the loans, so you will never forget to make a payment again. In addition, another great feature is that the application allows you calculate the amount of cash you can borrow by simply clicking the “affordable loan” option. Moreover, if you get the paid version, then you will be able to use the refinance command to check out your options on multiple loans.
The interfaces of these iPhone applications are intuitive and easy to use, even though the combination of black and blue on the Simple Loan Calculator makes this software’s interface a bit more appealing. Lastly, the Simple Loan Calculator will only ask you for 0.8 MB, while the other loan calculator application requires a bit over double that amount.
Even though they are very useful when you are out shopping for quotes, it seems that users prefer the EZ Loan Calc over the Simple Loan Calculator. While the first one received 4 out of 5 stars rating, the Simple Loan Calculator got only 2 out of 5 stars from the customers.
The EZ Loan Calc and the Simple Loan Calculator can be downloaded free of charge from the iTunes website. However, considering that the paid version of the applications is only 0.99 dollars and you get extra options on the loan calculators, it is worth the small investment.
In a nutshell
While the EZ Loan Calc is one useful application for people that are looking for mortgages as you can add the extra fees to the equation in order to get an highly accurate estimation, the Simple Loan Calculator is exactly what its name suggests, simple. Moreover, the manufacturers of the Simple Loan Calculator claim that you should not rely on their application, as interest rates and tax laws may very. Therefore, even though it has a nicer interface, the truth is that the Simple Loan Calculator is way too minimalistic for calculating loans.
Head2Head winner: EZ Loan Calc
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