Loan Comparison Calculator
Confused between two loan offers? Compare them side-by-side to see which one saves you more money on interest and EMIs.
Loan Option A
Monthly EMI
Loan Option B
Monthly EMI
Comparison Verdict
Both loans have the same total cost.
| Parameter | Loan A | Loan B | Difference |
|---|---|---|---|
| Monthly EMI | ₹ | ₹ | ₹ |
| Total Interest | ₹ | ₹ | ₹ |
| Total Payment | ₹ | ₹ | ₹ |
| Total Cost (Interest + Fees) | ₹ | ₹ | ₹ |
Cost Comparison
Interest Breakdown
Outstanding Balance Over Time
Why Comparing Loans is Critical
Taking a loan is a long-term financial commitment. A hasty decision can cost you significantly in the long run. By comparing different loan offers, you can identify the most cost-effective option that suits your repayment capacity.
This calculator helps you visualize the difference in Monthly EMI, Total Interest Payable, and Total Payment between two scenarios.
Key Metrics to Analyze
Interest Rate
The most obvious factor. Even a small reduction can lead to massive savings over 10-20 years.
Loan Tenure
Shorter tenure = Higher EMI but Lower Interest. Longer tenure = Lower EMI but Higher Interest.
Processing Fees
Don't ignore upfront costs. A loan with a lower rate but high fees might not always be the best.