About the Loan Comparison Calculator
What is the Loan Comparison Calculator?
Two loans with similar rates can have very different total costs once tenure and fees are included. This loan comparison calculator lays two offers side by side.
Enter the loan amount and, for each offer, the rate, tenure and processing fee. The result shows each EMI, the total cost of interest and fees, the APR, and which loan is cheaper overall.
How to use the Loan Comparison Calculator
- Loan Amount (₹) (sample: 25,00,000)
- Loan A – Interest Rate (%) (sample: 8.5)
- Loan A – Tenure (years) (sample: 20)
- Loan A – Processing Fee (%) (sample: 0.5)
- Loan B – Interest Rate (%) (sample: 9.2)
- Loan B – Tenure (years) (sample: 20)
- Loan B – Processing Fee (%) (sample: 0)
- Press Compare Loans (results also refresh as you type). The result card shows the Cheaper Loan, along with Loan A – EMI, Loan B – EMI, Loan A – total cost (interest + fees) and Loan B – total cost (interest + fees).
Formula used
Total cost = EMI × months − Principal + Fees (incl. GST)
- APR = effective annual rate including fees
A lower EMI from a longer tenure usually means a higher total cost.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Loan Amount (₹) | 25,00,000 |
| Loan A – Interest Rate (%) | 8.5 |
| Loan A – Tenure (years) | 20 |
| Loan A – Processing Fee (%) | 0.5 |
| Loan B – Interest Rate (%) | 9.2 |
| Loan B – Tenure (years) | 20 |
| Loan B – Processing Fee (%) | 0 |
| Result | Value |
|---|---|
| Cheaper Loan | Loan A, saves ₹2,54,083 |
| Loan A – EMI | ₹21,696 |
| Loan B – EMI | ₹22,816 |
| Loan A – total cost (interest + fees) | ₹27,21,689 |
| Loan B – total cost (interest + fees) | ₹29,75,772 |
| Loan A – APR incl. fees | 8.93% |
| Loan B – APR incl. fees | 9.6% |
Tips for using the Loan Comparison Calculator
- Compare equal tenures first; then decide separately how long you want to borrow.
- Ask about prepayment and foreclosure charges — they affect flexibility.
- A 0.25% rate difference on a ₹50 lakh, 20-year loan is worth about ₹2 lakh.