← Back
Loan Comparison Tool India 2026 – EMI & Interest Analysis
Use this free Loan Comparison Tool in India to put two loan offers side by side and instantly identify which offers the lowest total cost of borrowing.
Compare two loans side by side
Comparison
—
Loan A EMI
—
Loan B EMI
—
Loan A Total
—
Loan B Total
—
Loan A
Loan B
What is a Loan Comparison Calculator?
Side-by-side comparison of different loan offers showing EMI, total interest, and total cost for each - finding the best offer.
How It Works
For each loan: EMI = [P x R x (1+R)^N]/[(1+R)^N-1]; Total Cost = EMI x N; Total Interest = Total Cost - P.
Example
Option A: Rs.20L at 9% for 7 years: EMI Rs.31,970, Total Rs.26.85L, Interest Rs.6.85L. Option B: 8.5%: Total Rs.26.35L - saves Rs.50,000.
Pro Tips
- Compare total interest paid, not just EMI - lower EMI from longer tenure costs more overall.
- Include processing fees, prepayment charges, and foreclosure penalties in true cost comparison.
- 0.5% rate difference on Rs.50L over 20 years saves approximately Rs.2.5-3L.
- Use competing offers to negotiate - banks frequently match rates for creditworthy borrowers.
FAQ
How to compare loans?▼
Compare total cost (EMI x months) not just interest rate or monthly EMI amount.
Fixed vs floating for comparison?▼
Compare on the same type; or factor in likely rate movement over the loan tenure.
What is effective interest rate?▼
Includes fees and charges. IRR calculation gives the true cost of each loan option.
Best loan comparison factors?▼
Interest rate, processing fee, prepayment charges, foreclosure terms, and EMI flexibility.