लोन तुलना कैलकुलेटर
Loan comparison calculator
Two offers, different rates and tenures: see the EMI and the total cost of each, side by side.
Runs in your browser · nothing uploaded
Loan B costs less overall by
₹5.24 L
| Loan A | Loan B | |
|---|---|---|
| Monthly EMI | ₹17,356 | ₹20,285 |
| Total interest | ₹21,65,552 | ₹16,51,360 |
| Processing fee | ₹10,000 | ₹0 |
| Total cost | ₹41,75,552 | ₹36,51,360 |
- EMI difference per month
- ₹2,929
Formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1); total cost = EMI × n + processing fee
- A loan with a lower EMI can still cost more overall because it runs longer. Compare total cost, not just the EMI.
- Interest is on a reducing balance with a fixed rate. Floating-rate changes, insurance, GST on fees and prepayment charges are not included.
- Total cost is the sum of money paid, not adjusted for the time value of money.
An estimate for planning, not financial advice. Real returns, rates and charges depend on your bank, fund or lender, and can change.
How to use it
- 01Enter the amount, rate, tenure and processing fee for Loan A.
- 02Enter the same for Loan B.
- 03Read which costs less overall and by how much.
A: ₹20 L, 8.5%, 20 yrs, 0.5% fee. B: ₹20 L, 9%, 15 yrs
A's EMI is about ₹2,900 lower, but B costs about ₹5.2 L less overall
About this tool
A longer loan has a lower EMI but costs far more in interest, so judging by the EMI alone can mislead. The calculator works out both loans' EMI, total interest and processing fee, adds them into a total cost, and says which is cheaper and by how much.
Interest is a fixed rate on a reducing balance, the usual EMI formula. Floating-rate changes, insurance, GST on charges, part-payments and foreclosure fees are not included, and total cost is not adjusted for the time value of money, so use it as a first filter before asking each lender for a full sanction letter.
Everything runs in your browser. Use the EMI calculator for a full repayment schedule of the loan you pick.
हिंदी में मदद
दो लोन ऑफ़र की रकम, ब्याज दर, अवधि और प्रोसेसिंग फ़ीस डालें और EMI, कुल ब्याज और कुल खर्च आमने-सामने देखें। कम EMI वाला लोन अक्सर लंबी अवधि की वजह से ज़्यादा महँगा पड़ता है, इसलिए कुल खर्च देखकर तय करें।
Questions
Why compare total cost and not just EMI?
A lower EMI often comes from a longer tenure, which adds interest. The total cost shows what you really pay over the life of the loan.
Is the processing fee included?
Yes, as a percentage of the loan amount that you pay once. Leave it at 0 if you don't know it.
Does it handle floating rates?
No. It assumes the rate stays fixed. A floating-rate loan's cost will change when the lender's rate changes.
Can I compare a balance transfer?
Yes, enter the outstanding balance, the new rate and the remaining tenure for one loan, and the current terms for the other, then add the transfer fee as the processing fee.