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Loan Comparison Calculator

Compare two loans by EMI, interest rate, total interest and total repayment.

✓
100% Free to Use No sign-up required • Instant results

Loan A

Option A
1 100
₹50,00,000
%
0% 25%
1 100
VS

Loan B

Option B
1 100
₹50,00,000
%
0% 25%
1 100
🧮

How to Use This Calculator

  1. Enter the loan details for Loan A.
  2. Enter the loan details for Loan B.
  3. Click Compare Loans.
  4. Review EMI, interest and repayment before choosing an option.
⚖️

Why Compare Loans?

Two loans can have similar EMIs but very different total costs. This calculator helps you compare the important numbers side by side.

✓ Monthly EMI ✓ Interest Rate ✓ Total Interest ✓ Total Repayment ✓ Loan Tenure
🧮

How Does Loan Comparison Work?

We calculate the EMI for each loan using the loan amount, annual interest rate and tenure.

  • Total Repayment = EMI × Number of Payments
  • Total Interest = Total Repayment − Principal
₹

Example

Suppose you compare two ₹50 lakh loans for 20 years.

Loan A 8.5%
Loan B 9%

If Loan A has the lower total interest, it may be the cheaper option overall.

💡 Things to Consider

  • Don't compare using EMI alone.
  • Check total interest and repayment.
  • Consider processing fees and other charges.
  • Check prepayment and foreclosure charges.
  • Understand fixed vs floating interest rates.
  • Choose a tenure that fits your financial goals.

❓ FAQs

What is a loan comparison calculator?

It compares two loans using EMI, interest, repayment and tenure.

Is a lower EMI always better?

No. A lower EMI can result from a longer tenure and may lead to higher total interest.

Should I compare interest rate or EMI?

Compare both, along with total interest, repayment and fees.

Can I compare loans with different tenures?

Yes. The calculator can compare different interest rates and loan periods.

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