Loan Comparison Calculator
Compare multiple loan offers side by side. Find the best loan option by comparing EMI, total interest, and total payment.
Results
EMI - Option 1
₹0
EMI - Option 2
₹0
Total Savings (Option 1 vs 2)
₹0
How to Use Loan Comparison Calculator
- 1
Enter the loan amount
- 2
Input interest rates for both options
- 3
Specify the tenure
- 4
Compare EMI and total savings
Loan Comparison Calculator Formula
Compare: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1] for each optionExample Calculation
Input Values
Loan Amount
₹10,00,000
Interest Rate - Option 1
8.5 %
Interest Rate - Option 2
9 %
Loan Tenure
240 months
Results
EMI - Option 1
₹8,678
EMI - Option 2
₹8,997
Total Savings (Option 1 vs 2)
₹76,560
Frequently Asked Questions
Should I always choose the lowest interest rate?
Consider processing fees, prepayment charges, and service quality along with interest rate for a complete comparison.
How much difference does 0.5% make?
On a ₹50 lakh loan for 20 years, 0.5% difference can save ₹3-4 lakhs in total interest.
What is the best time to compare loans?
Compare before applying. Festival seasons often have special rates. Also check when RBI changes repo rates.