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Loan Comparison

Loan Comparison Calculator

Compare two loan offers side by side — different rates, amounts, or tenures — to see exactly which one costs less in EMI and total interest.

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⚖️ Enter Two Loan Offers

🏦 Loan A
🏦 Loan B

📊 Comparison Results

Click Compare
⚠️

Disclaimer: Results provided by this calculator are for educational and estimation purposes only. They do not constitute formal financial, investment, or tax advice. Actual returns, rates, and tax treatment depend on your specific circumstances and prevailing regulations. Consult a certified financial advisor or chartered accountant before making financial decisions.

How This Comparison Works

Lenders quote loans differently — a slightly lower rate but higher processing fee, or a longer tenure with lower EMI but more total interest. This tool runs the standard EMI formula (EMI = P × r × (1+r)n / ((1+r)n − 1)) on both offers independently and compares monthly EMI, total interest, and total repayment side by side.

Worked Example

Offer A: ₹10,00,000 at 8.5% for 20 years → EMI = ₹8,678/month, total interest = ₹10,82,776. Offer B: same amount at 9.5% for 20 years → EMI = ₹9,321/month, total interest = ₹12,37,115. That 1 percentage point difference costs ₹1,54,339 more in total interest over the loan's life — a clear illustration of why even small rate differences matter on long-tenure loans.

Frequently Asked Questions

Not necessarily. A lower EMI often comes from a longer tenure, which usually means paying more total interest over the loan's life. Compare total interest and total repayment, not just the monthly figure, especially if you can comfortably afford a somewhat higher EMI in exchange for a shorter tenure.
Processing fees, prepayment/foreclosure charges, and whether the rate is fixed or floating. A slightly higher advertised rate with zero prepayment penalty can be cheaper overall than a lower rate that locks you in, if you plan to prepay aggressively — see our Loan Prepayment Calculator to model that scenario.
More than most people expect, especially on large, long-tenure loans like home loans. On a ₹50 lakh, 20-year loan, even a 0.5% rate difference can total several lakhs of rupees in extra interest — always negotiate rate and compare offers before committing, even if the EMI difference looks small month-to-month.
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