Total Savings with Better Option
Shopping for a loan often involves juggling multiple offers from different banks. One bank might offer a lower interest rate but higher processing fees, while another offers zero fees but a slightly higher rate. Our Loan Comparison Calculator simplifies this decision. By entering the details of two loan offers side-by-side, you can instantly see the difference in Monthly EMI and the Total Cost (Interest + Fees). This helps you identify the truly cheaper option and save money over the loan tenure.
No need to calculate separately. See metrics for both loans in a single table.
Processing fees can change the verdict. We include them in the total cost analysis.
We explicitly calculate exactly how much money you save by choosing the better deal.
Our tool highlights the winner automatically, so you don't have to guess.
Use the comparison numbers to negotiate a better rate with your preferred bank.
Ideally, you should choose the loan with the lower Total Cost. A lower EMI might seem attractive, but it is often achieved by increasing the loan tenure, which results in paying much more interest over time.
Processing fees are an upfront cost. Even if a bank offers a slightly lower interest rate, a high processing fee can make the loan more expensive overall, especially for short-term loans. Always compare the total outflow (Interest + Fees).
APR stands for Annual Percentage Rate. It is the real cost of borrowing, expressed as a yearly rate, that includes not just the interest rate but also the processing fees and other charges. It gives a truer picture of the loan cost.
Yes, our calculator allows you to input different loan amounts. However, for a fair comparison of interest rates and terms, it is recommended to keep the loan amount the same to see which lender offers better value.
