Loan Comparison Calculator Online - Compare EMI, Interest
Loan Offer A
Loan Offer B
| Metric | Loan A | Loan B | Difference |
|---|---|---|---|
| Monthly EMI | ₹ | ₹ | ₹NaN |
| Total Interest | ₹ | ₹ | ₹NaN |
| Total Payment | ₹ | ₹ | ₹NaN |
About Loan Comparison Calculator
Compare two loan offers side-by-side with our free Loan Comparison Calculator. See the difference in EMI, total interest, and total repayment amount. Make informed decisions when choosing between multiple bank offers for home loan, personal loan, or car loan.
How to Use This Tool
Enter Loan A Details
Input the loan amount, interest rate, and tenure for the first loan offer.
Enter Loan B Details
Input the same details for the second loan offer you want to compare.
Compare Results
View the comparison table showing EMI, total interest, and total payment differences.
Make Decision
Choose the loan with lower total interest and affordable EMI based on your budget.
Frequently Asked Questions
Should I choose lower EMI or lower interest?
Focus on total interest paid, not just EMI. Lower EMI often means longer tenure and higher total interest. Always check the 'Total Interest' column to make the right decision.
How much can I save with 0.5% lower interest?
On a ₹50 lakh home loan over 20 years, a 0.5% lower interest rate can save you ₹5-7 lakhs in total interest! Even small differences matter over long tenures.
Should I compare loans with different tenures?
Yes! Sometimes a slightly higher rate with shorter tenure may result in lower total interest. Use this tool to compare different combinations.
What about processing fees and charges?
This calculator compares interest and EMI. Also consider processing fees, prepayment charges, and foreclosure charges which vary by bank.
Key Features
- •Side-by-Side Loan Comparison
- •Compare EMI Across Banks
- •Total Interest Difference Calculator
- •Color-coded Results (Green = Better)
- •Multi-Currency Support
- •Instant Real-time Calculation
Why Loan Comparison Calculator Matters
Save money by choosing the right loan. A small difference in interest rate can save lakhs over the loan tenure. Compare offers from multiple banks before finalizing. Essential for home buyers comparing home loan offers from SBI, HDFC, ICICI, and other banks.